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S. Korea's ICT exports hit new monthly high in Jan.

Industry 11:00 February 14, 2022

SEOUL, Feb. 14 (Yonhap) -- South Korea's exports of information and communication technology (ICT) products hit a new monthly high in January on robust global demand for chips and displays, data showed Monday.

Outbound shipments of ICT products reached US$19.65 billion last month, up 20.7 percent from a year earlier, according to the data from the Ministry of Science and ICT.

The January tally represents the largest-ever monthly amount and the 10th consecutive month of on-year gains since April last year.

ICT imports stood at $12.32 billion last month, up 14.4 percent from the previous year, resulting in a trade surplus of $7.33 billion in the sector.

Chips and displays bolstered the country's ICT exports in January. Semiconductor shipments surged 24.1 percent on-year to $10.89 billion, exceeding the $10 billion mark for the ninth consecutive month.

Display exports jumped 13.3 percent on-year to $2.35 billion, and overseas shipments of computer parts surged 54.3 percent to $1.53 billion.

Outbound shipments of mobile phones, however, shrank 12.9 percent to $1.04 billion.

By destination, shipments to China, South Korea's largest trading partner, and Hong Kong jumped 24.3 percent on-year to $9.2 billion.

Exports to Vietnam rose 12.4 percent to $3.32 billion, with those to the United States adding 8.6 percent to $2.06 billion and those to the European Union advancing 16.1 percent to $1.05 billion, the data showed.

In January, South Korea's overall exports jumped 15.2 percent to $55.32 billion from a year earlier on the back of brisk demand for chips and petrochemicals.

This file photo taken on Sept. 1, 2021, shows vessels carrying cargo containers docked at a port in the southern city of Busan. (Yonhap)

julesyi@yna.co.kr
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