South Korea's ICT exports rise for the tenth consecutive month

South Korea's ICT exports surged 24.3% year-on-year in November, marking the tenth consecutive month of growth, according to data released Sunday by the Ministry of Science and ICT.

ICT exports reached $25.45 billion in November, up 24.3% from the same month last year, Yonhap News Agency reported.

The tenth consecutive month of growth in ICT exports was driven by strong performance in semiconductors and a recovery in global demand for ICT equipment.

By category, semiconductor exports jumped 38.6% year-on-year to a record high of $17.27 billion.

Exports of smartphones, computers, peripherals, and communication equipment also rose by 3.5%, 1.9%, and 3.3%, respectively, while display exports declined by 3.7%.

Imports of information and communication technology rose 2.7% year-on-year to reach $12.77 billion.

The trade balance recorded a record surplus of $12.69 billion.

Source: Agencies

[Translated]

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