|Stacks of containers at a port in South Korea's southeastern city of Busan (Yonhap)|
According to the Ministry of Science and ICT, the country’s outbound shipments of ICT products last month reached $20.27 billion, up 33.2 percent on-year. It was the best results ever recorded for the month of August, and second-best for any month.
With that, the ICT exports tally extended its gaining streak, which began in June last year, to a 15th consecutive month.
Of the $20.27 billion in total, a whopping $11.79 billion were from chips and chip-related products.
The outbound shipment of such products posted a 42.2 percent jump on-year.
By product type, memory chips such as DRAM and NAND increased 51.2 percent on-year to $7.67 billion in August, while nonmemory products posted record-high exports of $3.56 billion.
Exports of display products too increased 22.4 percent on-year to $2.21 billion, backed by strong demand for organic light-emitting diode panels. The ministry noted exports of OLED products, which increased for 12 consecutive months, posted some $1.4 billion last month.
Smartphone exports rose 67.7 percent on-year to reach $1.18 billion. Outbound shipments to the US and Europe soared 99.3 percent to $390 million, while those to China climbed 55.4 percent to $790 million.
South Korea’s exports of computer products also increased 26.7 percent to mark $1.69 billion, marking the sixth consecutive month of increase.
By destination, shipments to China went up 36.3 percent on-year to $9.67 billion, growing for the 12th month in a row.
Shipments bound to Vietnam rose 18.2 percent to $3.26 billion, while those to the United States gained 41.7 percent to $2.46 billion.
Meanwhile, imports of ICT products in August reached $11.38 billion, up 23.7 percent on-year, resulting in a trade surplus of $8.89 billion.