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South Korea's IT exports rose 8.6% to $8.74B

Posted: 06 Jun 2006 ?? ?Print Version ?Bookmark and Share

Keywords:IT? information technology? semiconductor? Sean Shim?

The Korean Ministry of Information and Communication reported that exports of IT products in May rose 8.6 percent from a year ago to $8.74 billion, despite fierce global market competition, price declines and a stronger Korean won.

The Ministry of Information and Communication added that May imports totaled $4.80 billion, 12.1 percent higher than May 2005, producing a $3.94 billion trade surplus. The bulk of imports comprised semiconductors for mobile phones and digital home appliances, along with PCs and other information devices.

By product category, Korea's semiconductor exports totaled $2.82 billion, up 9.4 percent from a year ago, while exports of flat display panels jumped 89.4 percent to $1.32 billion. Exports of digital TVs rose 11 percent to $490 million.

However, outbound shipments of mobile phones and related components declined 0.8 percent year-on-year to $2.01 billion, while exports of information-providing devices fell 19.3 percent to $1.1 billion.

The report noted that exports to China grew only 5 percent year-on-year to $2.93 billion, while exports to Japan rose at a robust 55.87 percent to $890 million, buoyed by demand for flat display panels.

Exports to the U.S fell 12.2 percent to $910 million, due to a strong won and limited demand for mobile handsets and memory chips. Exports to Europe fell 3.4 percent year-to-year, also due to lackluster mobile phone shipments.

Overall, IT exports accounted for nearly 35 percent of Korea's overseas shipments of $127.54 billion from January to May.

- Sean Shim
EE Times

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