South Korea increased its chip exports for the first time

South Korea increased its chip exports for the first time in fifteen months

In early December, South Korea’s government statistics authorities released November results, reporting a 7.8% year-on-year increase in the country’s export revenue to a year-to-date high of $55.8 billion. That’s important after a 15-month decline in revenue from sales of semiconductor components abroad.

    Image source: Samsung Electronics

Image source: Samsung Electronics

In the semiconductor segment, South Korea’s export revenue increased by 12.9% in November compared to the same month last year. This was facilitated by rising prices for memory, as representatives explain TrendForce. The entry of new smartphone models and the growing popularity of artificial intelligence systems, which also require memory produced in South Korea, increased the country’s export revenue.

South Korea’s import revenue fell 11.6% to $52 billion compared to November last year. Typically, the Korean automotive industry has recorded sales growth for 17 consecutive months; November ended with an increase in this indicator by 21.5% to $ 6.5 billion. In November, electric vehicles accounted for up to 23.8% of export sales of Korean automakers, revenue from their sales increased by 69.4% $1.6 billion.

China remains South Korea’s largest export destination; even a 0.2% drop in revenue to $11.4 billion did not prevent the country from maintaining its lead over the United States, where South Korean suppliers brought in $11 billion in November sales in the Chinese market exceeds $10 billion for the fourth month in a row. In the United States, the following categories of Korean goods are in greatest demand: automobiles, machine tools, semiconductor components, wireless communication devices, household appliances, petrochemical and biochemical products.

About the author

Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

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