In February, exports in the information and communications technology (ICT) sector, powered by the artificial intelligence (AI) boom, posted a triple-digit growth rate for the first time on record. Export value, export growth rate, and trade balance all set all-time highs.
According to the February ICT trade trends released on the 12th by the Ministry of Science and ICT and the Ministry of Trade, Industry and Resources, ICT exports reached $33.62 billion, setting a new record high. Despite three fewer working days than last year due to the Lunar New Year holiday, that was up 103.3% from a year earlier.
ICT imports rose 19.6% year over year to $13.05 billion, resulting in a trade surplus of $20.57 billion. It was the largest ICT surplus on record.
ICT exports, led by semiconductors, accounted for 49.8% of total national exports ($67.45 billion). By item, ICT export growth rates were as follows: semiconductors (160.8%), mobile phones (16.9%), and computers and peripherals (187.8%) all recorded double-digit or higher growth rates. Meanwhile, displays (-7.5%) and telecommunications equipment (-9.0%) saw exports decline.
In particular, semiconductor exports came to $25.17 billion, topping $20 billion for a third straight month as memory prices continued to rise and exports of high value-added products expanded on the back of growing demand from global AI data centers. Computers and peripherals increased for a fourth consecutive month, driven by robust demand for solid-state drives (SSD) and price gains stemming from expanded AI infrastructure investment. The growth rate was 288.6%. Mobile phones ($1.24 billion) saw overall exports rise on initial volume secured due to new product launches and stronger demand for high-priced finished goods.
By contrast, display exports fell 7.5% to $1.36 billion as demand for other information technology (IT) devices weakened and competition intensified in the LCD market, despite increased supply of OLEDs for smartphones. Telecommunications equipment ($170 million) also declined as exports of in-vehicle equipment and wireless communication device parts to key countries, including the United States and Vietnam, decreased.