ICT exports jump 11.9 percent, as semiconductor demand returns

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ICT exports jump 11.9 percent, as semiconductor demand returns

Published: 15 Oct. 2020, 19:18

Korea's outbound shipments of information and communications technology (ICT) products rose 11.9 percent on year in September, data showed Thursday, as global demand for semiconductors picked up amid the pandemic.

Exports of ICT products stood at $17.63 billion last month, according to data compiled by the Ministry of Science and ICT, marking an on-year rise in exports for the fourth consecutive month.

Meanwhile, imports of ICT products reached $9.56 billion in September, up 9 percent over the same period, leading to a trade surplus of $8.07 billion in ICT trade, ministry data showed.

ICT products, which take up a major portion of Korea's total exports, had been hard hit by the pandemic earlier this year. They plummeted 15.3 percent on year in April before making a rebound in June with 1 percent growth.

By category, outbound shipments of semiconductors, the leading export category, rose 11.9 percent last month from the previous year to $9.6 billion.

Yonhap