Final month, South Korea’s info and communication expertise (ICT) exports recorded their highest-ever degree for the month of October. Semiconductors, a key export merchandise, led the export development as demand elevated for DRAM and high-value-added reminiscence for synthetic intelligence (AI) servers.
In line with the “October ICT Export and Import Developments” launched on Nov. 13 by the Ministry of Commerce, Trade and Assets and the Ministry of Science and ICT, ICT exports final month reached $23.33 billion, a rise of 12.2% from the identical month final 12 months ($20.8 billion). This represents the very best efficiency ever recorded for the month of October.
By product class, semiconductor exports recorded $15.74 billion, up 25.4% from the identical month within the earlier 12 months, persevering with double-digit development for eight consecutive months. This was attributed to rising reminiscence mounted transaction costs, restoration in DRAM and NAND costs, and sustained robust demand for high-value-added reminiscence DDR5 and HBM centered on AI servers.
Telecommunications gear recorded $180 million, up 2.5%, as exports elevated on account of favorable circumstances together with demand for wi-fi communication system elements from Vietnam and base station gear from India.
In distinction, shows fell 8.8% to $1.64 billion regardless of expanded utility of natural light-emitting diode (OLED) panels in IT units, on account of declining product costs and weakening demand.
Computer systems and peripheral units had been calculated at $1.11 billion, down 1.1% from the identical month within the earlier 12 months, as solid-state drive (SSD) exports recovered on account of AI and information heart demand from China and the Netherlands.
Computer systems and peripheral units confirmed restoration in SSD exports as AI and information heart demand elevated from China and the Netherlands, however total exports had been calculated at $1.11 billion, down 1.1% from the identical month within the earlier 12 months.
By area, exports expanded to all areas besides Japan. America recorded $2.5 billion, up 5.8%, as semiconductor and cell phone exports confirmed restoration. U.S.-bound exports, which had been declining since August, turned to development for the primary time in three months. Exports to different main international locations additionally elevated, together with Vietnam (3.8%), China (4.9%), and Taiwan (60.0%).
In distinction, Japan recorded $300 million, down 4.6% from a 12 months in the past. Whereas semiconductor exports elevated, total exports declined on account of weak point in different classes together with shows, cellphones, and computer systems.
October ICT imports totaled $12.96 billion, down 2.9% from the identical month within the earlier 12 months. With exports exceeding imports, the commerce steadiness recorded a surplus of $10.37 billion.
