ict exports turn around in south korea
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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ICT Exports Turn Around in South Korea

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Arab Today, arab today ICT Exports Turn Around in South Korea

ICT Exports Turn Around in South Korea
Seoul - QNA

South Korea's exports of information and communication technology (ICT) products landed in positive terrain for the first time in 14 months in November on the back of increased shipments of chips, displays and computers, government data showed Thursday. 
ICT exports reached US$14.8 billion last month, up 3.3% from $14.34 billion tallied a year ago, according to the data compiled by the Ministry of Trade, Industry and Energy. 
The outbound shipment of such products had declined for 13 months straight since October 2015 when it edged down 1.6% from a year earlier, according to (Yonhap) news agency. 
The trade ministry said rising demand for South Korean semiconductors, displays and computers led the improvement in ICT exports, offsetting weak exports of mobile phones. 
Imports of foreign ICT products also inched up 0.5% on-year to $8.8 billion last month, with the country logging a trade surplus of $6.72 billion in the sector. 
Outbound shipments of semiconductors made by Asia's fourth-largest economy gained 11.6% on-year last month on the back of recovering demand for memory chips, according to the data. 
The ministry said exports of displays increased 3.1% on-year in November after a 15-month losing streak helped by the rising demand for organic light-emitting diode (OLED) TVs. 
Overseas shipment of computer and computer equipment also jumped 15.2% on-year last month due to gains of South Korean-made solid state drive (SSD) in the global market, the ministry said. 
Combined overseas sales of handsets and parts, however, tumbled 27.4% to $2.22 billion last month from a year earlier, on the back of increased competition in the global market, the ministry said. 
Leading smartphone maker Samsung Electronics Co. decided to terminate production of its latest flagship smartphone, the Galaxy Note 7, over batteries causing fires in September. 
By region, shipments to Vietnam soared 42.2% on-year, while those to China, including Hong Kong, and the EU inched 3.6% and 1.9% on-year, respectively. 

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