ICT exports in March recorded double-digit growth for the third consecutive month, as ICT items as a whole achieved their best export performance this year, including semiconductor exports which grew by double digits for five consecutive months.

According to the information and communications industry import and export trends for March 2024 announced by the Ministry of Science and ICT on the 15th, exports recorded $18.82 billion and imports $11.71 billion, resulting in a surplus of $7.11 billion.

ICT exports in March recorded a double-digit increase for the third consecutive month, driven by positive figures across major items such as semiconductors, displays, mobile phones, computers, and peripherals, as well as the achievement of the highest performance this year in semiconductors.

Semiconductors amounted to $11.69 billion, up 33.9% from the same month last year. Total semiconductor exports increased by double digits for five consecutive months, reaching their highest level since June 2022 at $12.48 billion, driven by increased demand for semiconductors due to the growth of the artificial intelligence (AI) market and the recovery of demand for IT devices such as mobile phones and PCs.

In particular, memory exports expanded the growth of semiconductor exports, increasing significantly year-on-year due to rising fixed transaction prices and increased demand for high-value items such as HBM.

Display exports recorded $1.62 billion, up 13% from the same month last year. With the recovery in demand for IT devices such as TVs and PCs, both OLED and LCD exports increased, leading to double-digit growth in total display exports for two consecutive months.

Mobile phone exports totaled $880 million, up 6.6% from the same month last year. Although finished products saw a slight decrease, overall mobile phone exports turned positive for the first time in four months as exports of parts increased, centered on major mobile phone production regions such as China (including Hong Kong) and Vietnam.

Computers and peripherals totaled $1.02 billion, up 20.3% from the same month last year. The growth in auxiliary storage devices within peripherals drove the overall increase in computer and peripheral exports, marking three consecutive months of growth.

Telecommunications equipment exports totaled $220 million, down 7.1% from the same month last year. While exports to some regions, such as Vietnam, increased, overall exports declined due to decreases in the U.S. and China.

By region, China (including Hong Kong, 32.5%), Vietnam (6.7%), the United States (22.8%), and the European Union (10.5%) increased, while Japan (-25.0%) decreased.

ICT imports decreased by 1.2% compared to the same month of the previous year ($11.85 billion) due to a decrease in imports of computers and peripherals, secondary batteries, etc.