SEOUL: South Korea’s exports of information and communication technology (ICT) products soared more than 30% for the second consecutive month in May on robust global demand, according to data.
Outbound shipments of ICT products came to US$19bil last month, up 31.8% from US$14.45bil a year earlier, logging the seventh straight month of increase, according to data compiled by the Science and ICT Ministry.The country’s ICT imports increased 2.4% on-year to US$11.48bil, resulting in a trade surplus of US$7.57bil in the sector.
By item, chip exports surged 52.4% on-year to US$11.39bil last month on higher global chip demand stemming from the growth of the artificial intelligence market and the recovery of the information technology device market.
It was the seventh straight month the chip export tally posted a double-digit increase.
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