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83672
Thu, 10/08/2009 - 16:57
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https://www.oananews.org//node/83672
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S. Korean IT trade surplus tops record US$6.4 bln in Sept.
By Lee Joon-seung
SEOUL, Oct. 8 (Yonhap) -- South Korea's trade surplus in information technology
(IT) products reached a record US$6.43 billion mainly due to a sharp drop in
local demand for foreign made goods and modest export gains, a government report
showed Thursday.
Exports of semiconductors, mobile phones and other IT products rebounded into
positive territory for the first time in a year by edging up 0.8 percent to
$12.24 billion last month, with imports contracting 13.6 percent on-year to just
under $5.81 billion, according to the report by the Ministry of Knowledge
Economy.
The surplus is the largest since the ministry started announcing IT-related trade
figures in 1996, while the size of exports is the third highest tallied ever. The
largest monthly export volume was reached in October 2007 when the country
shipped out $13.07 billion worth of goods.
"Last month marked the first time since 9.2 percent growth reached in September
2008 compared to the year before," said Seo Seok-jin, head of the ministry's IT
policy coordination division.
He said for the nine months of this year, IT exports reached $86.36 billion, with
imports topping $45.16 billion for a combined surplus of a $41.19 billion.
Of the three top-selling IT products, exports of semiconductors jumped 22.3
percent annually last month, thanks mainly to steady gains in DRAM prices, with
outbound shipment of displays gaining 4.2 percent on-year fueled by various
stimulus programs being pursued by countries to bolster consumption.
Exports of semiconductors and displays reached $3.60 billion and 2.63 billion
respectively.
Overseas demand for mobile phones, however, contracted 22.5 percent vis-a-vis the
year before, as the current economic slump hurt consumption.
The ministry in charge of the country's industrial policy and trade promotion
said China and Hong Kong were the biggest importers of Korean-made IT products
last month, buying more than $5.52 billion worth of goods, followed by the United
States and the European Union that bought around $1.33 billion and $1.55 billion
worth of products each. Outbound shipments to Japan stood at $680 million last
month.
yonngong@yna.co.kr
(END)
SEOUL, Oct. 8 (Yonhap) -- South Korea's trade surplus in information technology
(IT) products reached a record US$6.43 billion mainly due to a sharp drop in
local demand for foreign made goods and modest export gains, a government report
showed Thursday.
Exports of semiconductors, mobile phones and other IT products rebounded into
positive territory for the first time in a year by edging up 0.8 percent to
$12.24 billion last month, with imports contracting 13.6 percent on-year to just
under $5.81 billion, according to the report by the Ministry of Knowledge
Economy.
The surplus is the largest since the ministry started announcing IT-related trade
figures in 1996, while the size of exports is the third highest tallied ever. The
largest monthly export volume was reached in October 2007 when the country
shipped out $13.07 billion worth of goods.
"Last month marked the first time since 9.2 percent growth reached in September
2008 compared to the year before," said Seo Seok-jin, head of the ministry's IT
policy coordination division.
He said for the nine months of this year, IT exports reached $86.36 billion, with
imports topping $45.16 billion for a combined surplus of a $41.19 billion.
Of the three top-selling IT products, exports of semiconductors jumped 22.3
percent annually last month, thanks mainly to steady gains in DRAM prices, with
outbound shipment of displays gaining 4.2 percent on-year fueled by various
stimulus programs being pursued by countries to bolster consumption.
Exports of semiconductors and displays reached $3.60 billion and 2.63 billion
respectively.
Overseas demand for mobile phones, however, contracted 22.5 percent vis-a-vis the
year before, as the current economic slump hurt consumption.
The ministry in charge of the country's industrial policy and trade promotion
said China and Hong Kong were the biggest importers of Korean-made IT products
last month, buying more than $5.52 billion worth of goods, followed by the United
States and the European Union that bought around $1.33 billion and $1.55 billion
worth of products each. Outbound shipments to Japan stood at $680 million last
month.
yonngong@yna.co.kr
(END)
