S. Korean IT trade surplus reaches US$6.39 bln in Oct.

SEOUL, Nov. 5 (Yonhap) -- South Korea's trade surplus in information technology
(IT) products amounted to US$6.39 billion in October as exports gained for a
second month amid tumbling imports, a government report showed Thursday.

Exports of semiconductors, mobile phones and other IT products edged up 0.7
percent on-year to $12.04 billion last month, with imports contracting 10.9
percent to $5.66 billion, according to the report by the Ministry of Knowledge
Economy.
The October surplus is the second-largest monthly tally ever, falling just short
of the $6.41 billion reached the month before. The ministry started announcing
IT-related trade figures in 1996.
In the 10 months of this year, IT exports reached $98.38 billion, with imports
topping $50.84 billion for a combined surplus of a $47.54 billion.
According to the report, exports of semiconductors jumped 36.7 percent annually
last month, thanks mainly to steady gains in DRAM prices, with outbound shipments
of displays gaining 10.4 percent on-year thanks to stimulus programs put in place
by various governments to bolster consumption.
Exports of semiconductors and displays reached $3.44 billion and $2.66 billion,
respectively.
Overseas demand for mobile phones, however, contracted 31.3 percent vis-a-vis the
year before to $2.58 billion, as the current economic slump hurt consumption.
China and Hong Kong were the biggest importers of Korean-made IT products last
month, buying more than $5.15 billion worth of goods, followed by the European
Union with $1.79 billion and the United States with $1.36 billion. Outbound
shipments to Japan stood at $650 million last month, according to the report.
yonngong@yna.co.kr
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