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IT Exports Increase for Consecutive 9 Months
Korea’s IT exports grew for a consecutive nine months to reach the highest level last month, backed by global IT market recovery and an increase in semiconductor and cellphone exports.
According to the Ministry of Science, ICT and Future Planning (MISP) last Sunday, IT exports as of last month grew by 17.2 percent year-on-year at USD 15.15 billion and trade surplus amounted to USD 8.27 billion. Accumulated IT exports and trade surplus reached USD 67.97 billion and USD 35.07 billion, respectively.
Korea’s IT trade balance reached the trade surplus of USD eight billion for the first time, contributing to the total trade balance of USD 6.03 billion.
Cellphone exports also increased by 61.2 percent over the same period last year, at USD 2.49 billion last month, with a rise in exports of smartphones and smartphone parts.
Exports of smartphones grew to USD 1.4 billion, a 46.9 percent increase year-on-year. Smartphone parts exports also rose by 99.9 percent compared to the same period last year to reach USD 1.04 billion.
Behind the increase in cellphone exports was the fact that Korean phones accounted for 38 percent of the global smartphone market in the first quarter. Samsung and LG Electronics showed enhanced performance, as they ranked first for five consecutive quarters and third, respectively.
Higher rates of operation in plants overseas, including those in China, Vietnam and Brazil, contributed to the rise in exports of cellphone parts.
In terms of semiconductors, exports grew for eight consecutive months due to increased exports of memory and system semiconductors. Semiconductor exports last month stood at USD 4.96 billion, a 17.2 percent increase year-on-year.
Exports of memory semiconductors rose by 27 percent over the same period at USD 2.23 billion. System semiconductor exports stood at USD 2.09 billion, a 10.6 percent rise compared to the corresponding period last year.
MISP noted that as the gradual recovery of the global IT market is expected, an increase in IT exports is likely to continue with strengthened competitiveness in semiconductor and cellphone sectors, adding that semiconductor exports will continue to grow with the rise in demand for smart devices and release of Intel’s new CPU Haswell. MISP also forecast that the market share of Korean cellphones in the global market will be expanded through the penetration of both middle- and high-end markets.
Source Text
Date
2013.06.13
Korea’s IT exports grew for a consecutive nine months to reach the highest level last month, backed by global IT market recovery and an increase in semiconductor and cellphone exports.
According to the Ministry of Science, ICT and Future Planning (MISP) last Sunday, IT exports as of last month grew by 17.2 percent year-on-year at USD 15.15 billion and trade surplus amounted to USD 8.27 billion. Accumulated IT exports and trade surplus reached USD 67.97 billion and USD 35.07 billion, respectively.
Korea’s IT trade balance reached the trade surplus of USD eight billion for the first time, contributing to the total trade balance of USD 6.03 billion.
Cellphone exports also increased by 61.2 percent over the same period last year, at USD 2.49 billion last month, with a rise in exports of smartphones and smartphone parts.
Exports of smartphones grew to USD 1.4 billion, a 46.9 percent increase year-on-year. Smartphone parts exports also rose by 99.9 percent compared to the same period last year to reach USD 1.04 billion.
Behind the increase in cellphone exports was the fact that Korean phones accounted for 38 percent of the global smartphone market in the first quarter. Samsung and LG Electronics showed enhanced performance, as they ranked first for five consecutive quarters and third, respectively.
Higher rates of operation in plants overseas, including those in China, Vietnam and Brazil, contributed to the rise in exports of cellphone parts.
In terms of semiconductors, exports grew for eight consecutive months due to increased exports of memory and system semiconductors. Semiconductor exports last month stood at USD 4.96 billion, a 17.2 percent increase year-on-year.
Exports of memory semiconductors rose by 27 percent over the same period at USD 2.23 billion. System semiconductor exports stood at USD 2.09 billion, a 10.6 percent rise compared to the corresponding period last year.
MISP noted that as the gradual recovery of the global IT market is expected, an increase in IT exports is likely to continue with strengthened competitiveness in semiconductor and cellphone sectors, adding that semiconductor exports will continue to grow with the rise in demand for smart devices and release of Intel’s new CPU Haswell. MISP also forecast that the market share of Korean cellphones in the global market will be expanded through the penetration of both middle- and high-end markets.
Source Text
Source: Newsis (June 9, 2013)
** This article was translated from the Korean.