Wed, 03 Mar 2021

S.Korea's ICT export grows 3.8 pct in 2020

Xinhua
18 Jan 2021, 18:30 GMT+10

SEOUL, Jan. 18 (Xinhua) -- South Korea's export of the information and communications technology (ICT) products grew last year as the COVID-19 pandemic boosted demand for tech products, a government report showed Monday.

The ICT export went up 3.8 percent over the year to 183.6 billion U.S. dollars in 2020, according to the Ministry of Trade, Industry and Energy. It was the third-highest yearly figure in the country's history.

Import in the ICT sector stood at 112.6 billion dollars last year, sending the ICT trade surplus to 71.0 billion dollars.

The ICT product shipment reduced 2.8 percent in the first half, but it rebounded in the second half as demand rose for tech products amid the COVID-19 pandemic that led people to work from home and attend online classes.

Semiconductor export rose 5.4 percent to 100.25 billion dollars in 2020, and shipment for computers and peripherals jumped 53.1 percent to 13.91 billion dollars.

Display panel shipment retreated 5.1 percent to 20.72 billion dollars, and mobile phone export declined 6.0 percent to 11.27 billion dollars.

The ICT export to China, South Korea's biggest trading partner, amounted to 86.88 billion dollars. Shipments to the United States and the European Union (EU) reached 22.13 billion dollars and 11.25 billion dollars each.

The ICT import from China came to 47.29 billion dollars last year. Imports from Japan and the United States stood at 10.42 billion dollars and 8.02 billion dollars respectively.

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