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S. Korea's ICT exports hit new monthly high in Nov.

11:00 December 14, 2021

SEOUL, Dec. 14 (Yonhap) -- South Korea's exports of information and communication technology (ICT) products touched a new monthly high in November on brisk global demand for chips and displays, data showed Tuesday.

Outbound shipments of ICT products reached US$21.49 billion last month, up 30 percent from a year earlier, according to the data from the from the Ministry of Science and ICT.

The November tally represents the largest-ever monthly amount and the 18th consecutive month of on-year gains since June last year.

ICT imports stood at $12.76 billion last month, up 23.1 percent from the previous year, resulting in a trade surplus of $8.73 billion in the sector.

Chips and displays bolstered the country's ICT exports in November, with semiconductor shipments surging 39.5 percent on-year to $12.09 billion, passing the $10 billion level for the seventh consecutive month.

Display exports swelled 11.3 percent on-year to $2.43 billion, and overseas shipments of mobile phones surged 17 percent to $1.48 billion.

By destination, shipments to China, South Korea's largest trading partner, and Hong Kong jumped 30.4 percent on-year to $10.06 billion.

Exports to Vietnam rose 24.7 percent to $3.53 billion, with those to the United States advancing 34.7 percent to $2.49 billion and those to the European Union spiking 26.3 percent to $1.27 billion, the data showed.

In November, South Korea's overall exports shot up 32.1 percent on-year to a record $60.44 billion thanks to strong global demand for chips and petrochemical products, extending their gains to 13 consecutive months.

This undated file photo shows cargo containers stacked at a port in Busan, 453 kilometers southeast of Seoul. (Yonhap)


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