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S. Korea”s ICT Exports Rise 5.8%

Seoul, July 14 (QNA) – South Korea”s exports of information and communication technology (ICT) products rose 5.8% in the first half from a year earlier, driven by robust semiconductor sales amid growing demand for data centers, government data showed Monday.

Outbound shipments of ICT products reached $115.16 billion in the January-June period, up from $108.83 billion a year earlier, South Korean Ministry of Science and ICT said in a press release cited by Yonhap News Agency.

ICT imports rose 5% on-year to $70.92 billion in the first six months, resulting in a trade surplus of $44.24 billion in the sector.

By product, semiconductor exports rose 11.4% on-year to $73.31 billion, helped by strong demand for artificial intelligence chips and high chip prices.

Exports of computers and communications equipment jumped 10.8% to $6.64 billion, while mobile phone shipments increased 9.1% to $6.08 billion, the data showed.

However, exports of display panels fell 13.9% to $8.7 billion amid growing uncertainty in global consumer markets and inventory adjustments in related industries. (QNA)

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