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Korea's semiconductor and mobile phone exports surge in January Updated: 2014-02-11 06:29:43 KST

Korea's exports
of IT products, which include semiconductors and mobile phones, inched up 0.2 percent last month from the same period a year earlier to 13.1 billion U.S. dollars.
The Trade Ministry said Monday that the rise in outbound shipments of IT products came in spite of a weak Japanese yen and financial instability in emerging economies.
The trade ministry attributed the rise to growing shipments to ASEAN member countries and the European Union.
Shipments of mobile phones, in particular, surged over 14 percent last month from the previous year to 2.1 billion dollars.
A more than 20-percent spike in exports of smartphones led the rise.
Exports of semiconductors also rose about 15 percent to more than four-and-a-half billion dollars.
Shipments of display panels, however, fell more than 15 percent to 2.2 billion dollars as exports to Korea's largest importer China plunged.
Korea's imports of IT products, meanwhile, dropped 2.7 percent to 6.8 billion dollars, spurring a 3.4 percent gain in the nation's trade surplus.
The trade ministry expects the upward trend in IT exports to continue due to the economic recovery in Korea's major exporting markets like the United States and the European Union, along with the growing demand of smart gadgets in emerging economies.
Hwang Ji-hye, Arirang News.


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