SEOUL, 14th November, 2024 (WAM) -- Korea's exports of information and communication technology (ICT) products rose for the 12th consecutive month in October, driven by strong global demand for semiconductors, data showed Thursday.
Outbound shipments of ICT products came to US$20.8 billion last month, up 22 percent from $17.05 billion a year earlier, according to data compiled by the Ministry of Science and ICT.
According to Yonhap News Agency, it marks the third straight month the country's ICT exports surpassed the $20 billion mark.
Imports of ICT products increased 5.7 percent on-year to $13.3 billion, resulting in a trade surplus of $7.47 billion in the sector.
By item, chip exports jumped 39.9 percent on-year to $12.6 billion in October, posting a double-digit increase for the 12th straight month, amid robust demand for high-value products, like high-bandwidth memory chips, sparked by the global artificial intelligence boom.