▲Major Export Products Scale and Rate of Change

Semiconductor Exports Show 23-Month Growth Trend…Foundry Business Performs Well
Server Volume Remains Solid, Continuing Export Growth

ICT products including semiconductors and wireless communication devices set record highs for May, driving May export growth.

According to the 2022 May import-export trends announced by the Ministry of Trade, Industry and Energy on the 1st, semiconductors increased 15.0% year-over-year to $1.155 billion, and computers increased 29.1% year-over-year to $166 million. Wireless communication devices increased 8.4% year-over-year to $130 million, and home appliances increased 10.9% year-over-year to $78 million. Display increased 0.1% year-over-year to $152 million, showing limited growth.

'Semiconductors' achieved 23 consecutive months of export growth and 13 consecutive months of $10 billion-plus performance, recording the number one result for May in history.

Despite production disruptions from China's lockdown measures, exports increased due to △favorable foundry business conditions △anticipated new CPU server launches in the second half and expansion of cloud and AI-related investments.

'Display' showed LCD panel unit prices declining, while OLED products continued their boom, but price declines were observed in some products due to improved productivity.

'Wireless communication devices' recorded four consecutive months of growth as strong demand for premium domestic smartphones in major overseas markets combined with rising component unit prices due to recent supply chain instability.

'Computers' maintained double-digit growth rates for 12 consecutive months and achieved the number one result for May in history, as SSD unit prices rose due to production disruptions in some overseas regions while global IT companies expanded SSD demand.

'Home appliances' recorded eight consecutive months of growth, as home appliance demand slowed due to continued global market uncertainty and economic contraction, but domestic brands performed well in the U.S. home appliance market and global premium appliance demand continued.

Minister of Trade, Industry and Energy Lee Chang-yang stated, "By promoting new trade policies that can lead changes in the global trade order and strengthen and stabilize our industry supply chains, we will create a foundation for our companies to compete confidently on the global stage."