South Korea’s exports of information and communications technology (ICT) products hit a new record high of $20.2 billion in September, breaking the $20 billion threshold for the second consecutive month.

According to the Ministry of Science and ICT on Wednesday, the country’s outbound shipments of ICT products reached $20.27 billion in September, up 5.3 percent from a year ago. It is the largest-ever figure surpassing the previous high of $20.19 billion in August.

The surplus in ICT trade also hit highest-ever $12.29 billion in September as imports totaled a mere $7.98 billion.

The growth in the nation’s ICT exports was mainly driven by record-strong shipments of semiconductors amounting to $12.54 billion last month, which was up 26.9 percent against a year-ago period. Memory chips took up the bulk of $9.62 billion, up a whopping 44.5 percent on year.

Shipments of computers and related equipment jumped 4.1 percent to $990 million on brisk sales of solid state drives (SSDs) reaching $640 million, up 10.3 percent from a year earlier.

Exports of mobile phones, however, plunged 36.6 percent to $1.16 billion due to fiercer competition with global manufacturers.

By region, ICT goods exports to China expanded 16.6 percent to hit the record high of $11.62 billion in September. Shipments to Europe also added 13.1 percent to $1 billion. Exports to the U.S. and Vietnam, however, fell to $1.73 billion and $2.46 billion, down 11.5 percent and 12.3 percent, respectively, due to plunged sales of mobile phones.

By Won Ho-sup and Lee Ha-yeon

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]