ICT exports in May set a record high. As investment in AI servers expanded, demand and prices for memory semiconductors rose together, and ICT exports recorded the $40 billion range for three consecutive months for the first time ever.
The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy said on the 15th that May ICT exports rose 128.9% from a year earlier to $47.79 billion. This surpassed the previous record high in March this year ($43.45 billion) to mark the largest monthly total on record.
Imports increased 36.0% to $15.7 billion, and the trade balance posted a surplus of $32.09 billion, the first time ever in the $30 billion range. ICT exports accounted for 54.5% of total industry exports ($87.75 billion).
Semiconductors led the export increase. Semiconductor exports surged 169.2% from a year earlier to $37.16 billion, setting a new monthly peak. They accounted for 77.8% of total ICT exports. Backed by demand to expand big tech's AI training and inference servers, memory semiconductor exports jumped 254.9% to $32.14 billion. System semiconductor exports also rose 5.7% to $4.45 billion.
Computer and peripheral exports also increased 259.6% to $4.33 billion, extending their record performance for a fourth straight month. The surge was thanks to AI server SSD exports, which jumped 337.7% to $3.97 billion. Displays ($1.57 billion, +2.8%) and mobile phones ($1.22 billion, +15.9%) also continued to rise on the back of recovering OLED demand and strong sales of high value-added components.
By region, all major export destinations posted double-digit growth rates. China, including Hong Kong, the largest export market, increased 157.3% to $19.51 billion, and the United States surged 254.3% to $8.11 billion. Vietnam ($6.77 billion, +90.8%), Taiwan ($5.74 billion, +95.5%), and the European Union ($1.7 billion, +53.9%) all grew in unison.