South Korea's February memory chip exports rose 21.4% year-on-year to $6.34 billion
2022-03-15
According to Korean media reports, the Ministry of Science, Technology, Information and Communications of South Korea released the latest statistics. In February, the export value of information and communication technology (ICT) increased by 23.7% year-on-year to US$18.88 billion, hitting a new high for the same period and growing for the 11th consecutive month.
In addition, South Korea's February ICT product imports increased by 23.9% year-on-year to 11.39 billion US dollars, and the trade balance reported a surplus of 7.49 billion US dollars.
In terms of major export items, South Korea's semiconductor exports in February increased by 24% year-on-year to US$10.46 billion, exceeding US$10 billion for 10 consecutive months, and memory chip exports increased by 21.4% year-on-year to US$6.34 billion. Display exports were assisted by OLED panels. Next, exports of computers/peripherals increased by 47.8% to US$1.58 billion; on the other hand, exports of mobile phones decreased by 4.9% to US$980 million.
In terms of countries and regions, South Korea's exports to mainland China/Hong Kong market reported an annual increase of 20.7% to US$8.47 billion in February, exports to Vietnam market reported US$3.09 billion, exports to the US market reported US$2.08 billion, and exports to the EU market reported 12.2 billion US dollars. US$330 million for exports to the Japanese market.
In terms of trade balance, in February, South Korea had a surplus of US$4.47 billion in trade with China, a surplus of US$2.08 billion with Vietnam, a surplus of US$1.46 billion with the United States, and a surplus of US$660 million with the EU; on the other hand, trade with Japan had a surplus of US$660 million. There was a loss of $660 million.
