South Korea’s exports of information and communications technology (ICT) products hit a new record high in September thanks to strong demand for semiconductors, a government report showed on Monday.
The ICT exports reached 19.26 billion U.S. dollars in September, topping the previous high of 17.48 billion dollars tallied in August, according to the Ministry of Trade, Industry, and Energy, reports BSS.
The September figure was up 32.6 percent from the same month of last year, marking the highest monthly growth since April 2010. The ICT exports increased by a double-digit for almost a year.
The continued expansion was attributed to strong demand for semiconductors, whose exports jumped 73.3 percent over the year to 9.88 billion dollars in September. It marked the record monthly high in chip exports.
Overseas shipments of display panels and computers maintained an upward momentum at 2.87 billion dollars and 950 million dollars each.
ICT exports to China and the United States expanded 27.8 percent and 31.7 percent respectively in September from a year earlier. Those to the Vietnam surged 89 percent, with those to the European Union (EU) rising 16.5 percent.