Korea's ICT exports jump 15.8% in March

Published : Apr 12, 2017 - 11:03 Updated : Apr 12, 2017 - 11:03

SEJONG -- South Korea's exports of information and communications technology products rose for the fifth straight month in March on rising global demand for semiconductors and displays, government data showed Wednesday.

Outbound shipments of ICT products advanced 15.8 percent on-year to $16.5 billion last month, the third-largest monthly amount in history, according to the data compiled by the Ministry of Trade, Industry and Energy.

(Yonhap)

The country's exports have been on a rise since November last year, with 22.8 percent on-year growth in February, marking the highest pace since August 2010.

ICT imports increased 8.1 percent to $8.65 billion in March, with the country logging a trade surplus of $7.5 billion in the sector.

The ministry said rising overseas demand for South Korean semiconductors, displays and computers drove the surge in ICT exports, offsetting weak exports of mobile phones.

Exports of semiconductors made by Asia's fourth-largest economy soared 44.1 percent on-year to a fresh record high of $7.62 billion in March.

By country, exports to China jumped 15.6 percent to $8.1 billion last month and those to the European Union soared 28 percent to $910 million. (Yonhap)