In March, exports of major ICT items increased across the board, driven by a recovery in exports of semiconductors and displays.

The Ministry of Science and ICT (Minister Yoo Sang-im) and the Ministry of Trade, Industry and Energy (Minister Ahn Deok-geun) announced the information and communication technology (ICT) industry export and import trends for March on the 15th.

According to this, exports increased by 9.4% to 20.58 billion dollars compared to the same month of the previous year (18.81 billion dollars), and imports increased by 6.8% to 12.21 billion dollars compared to the same month of the previous year (11.43 billion dollars). The trade balance recorded a surplus of 8.37 billion dollars.

March ICT exports showed a significant increase in exports and trade balance compared to February, and it is significant that exports of major ICT items increased together for the first time in eight months.

Looking at export performance and characteristics by item, semiconductors increased by 11.8% year-on-year to $13.06 billion. Exports recorded a recovery due to increased demand for high value-added memory resulting from a decrease in memory inventory at demand companies and increased investment in AI servers.

Displays increased by 1.3% year-on-year to $1.64 billion. The increase was due to increased demand from the ICT forward industry and upstream companies securing inventory in preparation for the US reciprocal tariff.

Mobile phones increased 14.5% year-on-year to $1 billion. The expansion of component exports to overseas production bases drove overall mobile phone exports.

Computers and peripherals recorded $1.31 billion, up 28.1% year-on-year. Exports were driven by increased demand for auxiliary memory devices used in AI data center storage, recording growth for 15 consecutive months.

Telecommunications equipment recorded $220 million, down 0.4% year-on-year. Despite increased exports to the US and Mexico for battlefield use, overall exports decreased due to a decrease in wireless communications equipment supplies to Vietnam.

Looking at export performance and characteristics by region, China's exports decreased by 12.2% year-on-year to $7.35 billion. Displays and mobile phones increased, but overall exports decreased due to decreases in semiconductors, computers, and peripherals.

Vietnam's exports increased by 14.6% year-on-year to $3.43 billion, with semiconductors and displays leading the exports, increasing for the 20th consecutive month.

The U.S. increased by 19.4% year-on-year to $2.77 billion, increasing for the 17th consecutive month due to brisk exports of major items such as semiconductors, computers, and peripherals.

The European Union recorded a 2.8% decrease year-on-year to $1.06 billion. Semiconductors, computers and peripherals increased, but overall exports decreased due to decreases in displays and mobile phones.

Japan increased by 3.3% year-on-year to $320 million. Major items such as semiconductors, displays, computers and peripherals increased across the board, turning into an upward trend.

Taiwan's exports increased by 158.4% year-on-year to $2.92 billion. Overall exports increased as major items such as semiconductors and mobile phones increased.

India's exports decreased by 3.7% year-on-year to $420 million. Displays increased, but semiconductors and communications equipment decreased, leading to a decrease in overall exports.

March ICT imports amounted to $12.21 billion, up 6.8% from $11.43 billion in the same month last year due to increases in semiconductors and mobile phones.

In particular, system semiconductors are a major import item, accounting for 30.4% (USD 3.72 billion) of ICT imports, and imports increased by 23.1% year-on-year due to the recent increase in advanced packaging volumes related to AI accelerators.