IT exports reach $5.9 billion

Jon · Korean Citizen Joined: Mar 19, 2004 Posts: 510

Thanks to higher semiconductor prices, exports of information-technology products reached $5.88 billion in April, a 42.3 percent increase from the same month last year, the Ministry of Information and Communication said yesterday.

Imports were tracked at $3.4 billion, a 21 percent increase from last year's number, resulting in a trade surplus of $2.4 billion. The export total represents a slight drop from March's $6.3 billion.

Ministry officials point out the rise of semiconductor prices as the driving force behind greater exports, with the major destinations of the United States, Japan and Europe in states of recovery. Overseas sales of semiconductors were $2.19 billion, with U.S. exports showing a 63 percent increase from last year at $370 million. Asian exports also rose by 53.1 percent at $1.5 billion.

Cellular phone exports also increased 33.5 percent at $1.15 billion, due to the expansion of CDMA2000 1x services in the U.S. and greater demand for high-end handsets in Europe. Sales to the U.S. were valued at $470 million, a rise from $340 million during the same period last year, while European sales were $280 million, more than double last year's $130 million.

"The economic recovery of U.S. and Europe, as well as the rapid expansion of IT industries in other countries, will continue to stimulate the export growth of Korean IT products," said a ministry official.

"The Chinese government's intention of slowing down their economy will have a minimal effect, considering Beijing's initiatives of developing the country's IT sector as a major growth engine."

Overseas sales of digital televisions rose 45.2 percent from a year earlier to $250 million, thanks to increased demand in the U.S. and Europe. Personal computer exports dropped 58.2 percent from last year at $50 million, while overseas sales of monitors jumped 64.3 percent at $680 million.

(thkim@heraldm.com)

By Kim Tong-hyung