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S.Korea's ICT export posts first upswing in 16 months

Xinhua News,SEOUL
2020-03-11 12:14

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South Korea's export of the information and communications technology (ICT) product posted the first upswing in 16 months last month, a government report showed Wednesday.

The ICT export gained 8.5 percent over the year to 13.74 billion U.S. dollars in February, marking the first increase in 16 months since November 2018, according to the Ministry of Trade, Industry and Energy.

Import in the ICT sector grew 5.7 percent to 7.71 billion dollars, sending the trade surplus to 6.03 billion dollars.

Semiconductor export expanded 9.3 percent on stronger demand for NAND flash memory chips and system chips, and mobile phone shipment rose 4.7 percent in the month.

Display panel shipment diminished 14.9 percent in the cited period on weak demand for LCD panels.

Export for computer and peripherals surged 87.8 percent thanks to robust demand for solid state drive (SSD).

The ICT export to China, South Korea's biggest trading partner, ranked first in terms of export value with 6.19 billion dollars.

It was followed by Vietnam with an export of 2.33 billion dollars, the United States with 1.71 billion dollars and the European Union with 870 million dollars respectively.
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