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ICT exports rise by double digits for 14th straight month in Jan.

2018/02/13 13:56

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By Kim Han-joo

SEOUL, Feb. 13 (Yonhap) -- South Korean exports of information and communication technology (ICT) products posted double-digit growth for the 14th month in a row in January on brisk overseas sales of semiconductors, government data showed Tuesday.

A total of US$117.7 billion worth of ICT products were shipped overseas, up 28.1 percent from a year earlier, according to the Ministry of Science and ICT.

The latest overseas shipment numbers marked a monthly record high for January, the ministry said.

The ministry said strong demand for South Korean computer chips and computers pushed up growth and offset weak exports of mobile phones.

Exports of semiconductors made by Asia's fourth-largest economy soared 53.8 percent on-year to $9.86 billion in January. The strong figures were mainly fueled by a rise in the market price of NAND flash memory chips, it said.

Overseas shipments of computers and computer-related equipment surged 38.2 percent on-year last month on the back of steady demand for solid state drives (SSD), the latest findings showed. SSD shipments rose for the 10 month in a row.

The ministry said exports of displays, meanwhile, inched down 5.9 percent on-year in the one-month period due to the falling price of LCD panels, offsetting strong exports of organic light-emitting diode (OLED) panels.

Combined overseas sales of mobile handsets and parts also decreased 8.3 percent to $1.39 billion last month from a year earlier, the data showed, mainly on the back of increased competition in the global smartphone market.

By region, shipments to China and Vietnam soared 29.2 percent and 86.1 percent, respectively, on-year. Notably, monthly ICT exports to Vietnam continued their strong upward momentum that began last year on the back of strong exports of displays and semiconductors.