May semiconductor exports exceeded 10 billion dollars, with semiconductor exports increasing for 11 consecutive months.

According to the export-import trends for May 2021 announced by the Ministry of Trade, Industry and Energy on the 1st, May semiconductor exports were 10.043 billion dollars, up 24.5% year-over-year.

This represents 11 consecutive months of growth, with export amounts breaking through 10 billion dollars for the first time since November 2018, ranking 2nd among May export records in history, and cumulative exports for January-May also ranking 2nd in history.

In 2017-18, which ranked 1st-2nd in annual export records, semiconductors experienced a boom period, setting semiconductor annual export records for two consecutive years.

This export performance is analyzed as resulting from the full rollout of 5G smartphones and expanded investments by data center companies leading to increased orders for mobile and server-use memory, which in turn caused fixed memory prices to rise due to expanded demand across application sectors, as well as favorable notebook sales driven by sustained contactless economy demand.

DRAM fixed prices rose from 3 dollars in January-March 2021 to 3.8 dollars in April-May, and NAND fixed prices rose from 4.2 dollars in October 2020 to March 2021 to 4.56 dollars in April-May.

By region in May, China increased 9.2% year-over-year to 3.14 billion dollars, and ASEAN increased 57% year-over-year to 1.44 billion dollars. The EU increased 49.3% year-over-year to 170 million dollars, and the United States increased 19.6% year-over-year to 530 million dollars.

System semiconductors, an emerging growth product category, also increased 55.6% year-over-year, recording positive growth for 13 consecutive months.

Semiconductor price increases and positive forecasts from market research institutions are continuing, and expectations are high for upward momentum to continue in the second half of the year.

Recent semiconductor equipment imports have reached levels exceeding the 2017-18 supercycle, and given the trend that semiconductor equipment imports lead semiconductor exports by approximately six months, positive performance in semiconductor exports is anticipated thereafter.

Display exports in May were 1.523 billion dollars, up 38.6% year-over-year. Of this, OLED was 972 million dollars, up 64.2% year-over-year.

With increases in OLED smartphone shipments and expanded demand for notebooks, monitors, and televisions, LCD volumes and unit prices are also rising, and as a result of overall increased display shipment volumes, exports increased for 2 consecutive months.

Computer exports were 1.281 billion dollars, up 7.5% year-over-year.

With expanded adoption of 5G smartphones leading to increased data capacity, recovery in demand for data center construction by IT companies resulting in SSD unit price increases, and NAND flash price increases resulting from semiconductor shortages, the sector increased for 3 consecutive months.

Meanwhile, South Korea's total May exports were 50.73 billion dollars, up 45.6% year-over-year, and imports were 47.81 billion dollars, up 37.9% year-over-year. May trade balance recorded a surplus of 2.93 billion dollars.