S. Korea's ICT exports in May up 27.4% y/y; 2nd highest for month on record
Updated: 2021-06-14 13:35:26 KST
South Korea's ICT exports in May increased for the 12th consecutive month marking the second largest amount for the month of May on record.
According to the Ministry of Trade, Industry and Energy on Monday, the country shipped 17.7-3 billion U.S. dollars worth of ICT products last month up 27.4 percent on-year.
The increase was mainly led by surging demand for semiconductors, displays, and mobile phones.
Exports of semiconductors rose 24-percent with the figure surpassing the ten-billion dollar mark for the first time in two and a half years.
Displays exports were up almost 40 percent thanks to booming demand for OLED and LCD panels.
Shipments of mobile phones jumped 43-percent rising for the seventh straight month.
Exports of computers and related devices were also up nearly 10-percent recording an on-year gain for the third consecutive month.
By region, growth was mostly driven by South Korea's top trading partners.
Shipments to China, South Korea's largest export destination, jumped nearly 20-percent.
Exports to Vietnam spiked almost 40-percent the U.S. more than 30-percent and the EU by 34 percent.
South Korea's imports of ICT goods also rose in May by close to 18 percent on-year.
This resulted in a trade surplus of more than 7.2 billion dollars in May.
Bae Eun-ji, Arirang News.