▲ Historical Monthly ICT Export Rankings (Unit: 100 million USD, Source: Ministry of Science and ICT)

Up 33.6% from March of the previous year, achieving a trade surplus of $10.4 billion

In March 2022, ICT exports reached an all-time high, breaking the previous monthly record (December 2021).

The Ministry of Science and ICT announced on the 14th that ICT exports in March 2022 recorded $23.26 billion, an increase of 33.6% compared to the same month of the previous year.

Imports recorded $12.86 billion, an increase of 23.9% compared to the same month of the previous year.

Despite an overall export deficit caused by uncertain external conditions such as the situation in Ukraine, the ICT industry achieved a surplus of $10.4 billion.

▲ Monthly ICT Export Growth Rate (Unit: %, Source: Ministry of Science and ICT)

Semiconductor exports in March recorded $13.2 billion, a 37.9% increase compared to the same month last year, surpassing $10 billion for 11 consecutive months and marking an all-time high. Achieved the highest monthly export performance.

Memory semiconductors exceeded $8 billion and increased for 19 consecutive months due to sustained demand from downstream industries such as smartphone launches, while system semiconductors surpassed $4 billion for the first time as favorable foundry market conditions continued, setting a new all-time high export value.

Display exports in March increased by 45.3% year-on-year to $2.45 billion, marking 19 consecutive months of growth driven by continued demand for organic light-emitting diodes (OLEDs).

With the continued expansion of the market for organic light-emitting diodes for TVs and mobile devices, the organic light-emitting diode market recorded $1.42 billion, a 69.0% increase compared to the same month last year.

Mobile phone exports in March recorded $1.51 billion, a 36.9% increase compared to the same month last year, driven by a rise in both finished products and parts. Both finished products and parts increased as demand for new premium smartphones and high value-added components expanded.

Exports of computers and peripherals in March recorded $1.79 billion, a 36.9% increase compared to the same month last year. Driven by peripherals, this marked the highest March export figure on record. In particular, Solid State Drives (SSDs) recorded $1.42 billion, a 55.6% increase year-on-year, marking 11 consecutive months of growth.

Exports to China, the United States, and the European Union increased for all major items, and all five major countries showed a continuous growth trend for 11 to 27 months.

China surpassed $10 billion for the first time in three months with $10.57 billion, followed by Vietnam ($3.5 billion), the United States ($2.84 billion), the EU ($1.42 billion), Japan ($460 million), and others ($4.46 billion).