Korea's May Export of Information and Communication Technologies Industry to China soared by 32.7%

According to Yonhap News, according to the Yonhap News Agency, the Korean Ministry of Science, Technology, and Communications released data on Monday that South Korea’s export of information and communication technology (ICT) industry in May was US$18.57 billion, up 20.6% year-on-year, since December 2016. Has maintained double-digit growth for 18 consecutive months and set a record high for the calendar year.

From the perspective of export products, semiconductor exports increased by 43.5% year-on-year to US$10.94 billion, and exceeded the US$10 billion mark for the second time since March last year. Thanks to the new smartphones, US$1.41 billion was exported. Exports increased by 4.5% year-on-year in 26 months. In addition, computer and peripheral products increased by 28.6% year-on-year to US$950 million.

From the perspective of the export target countries, exports to China soared by 32.7%, an increase of record highs reaching US$10.4 billion; exports to the United States increased by 32.2% from the same period last year to US$1.78 billion; exports to the EU increased by 28.4% year-on-year to US$1.01 billion. On the contrary, due to negative factors such as the reduction of display and mobile phone exports, exports to Vietnam decreased by 13% year-on-year to 1.91 billion US dollars.

During the same period, the ICT industry's imports amounted to US$8.73 billion, an increase of 9.0% year-on-year. The ICT trade balance achieved a surplus of US$9.84 billion.

2016 GoodChinaBrand | ICP: 12011751 | China Exports