ICT Exports Hit All-Time High on Surging AI Semiconductor and OLED Demand... Semiconductors Set Record for Second Straight Month

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Driven by surging demand for high value-added products such as artificial intelligence (AI) semiconductors and OLEDs, information and communications technology (ICT) exports in September reached an all-time high.

According to the Ministry of Trade, Industry and Energy and the Ministry of Science and ICT, ICT exports in September totaled 25.43 billion dollars, a 14.0% increase compared to the same month last year (22.32 billion dollars). Imports amounted to 13.78 billion dollars, up 10.4%, resulting in a trade surplus of 11.65 billion dollars, marking the second-highest surplus on record.

This performance was achieved despite the global economic slowdown, as exports-particularly semiconductors-expanded. Semiconductor exports reached 16.62 billion dollars, up 21.9%, setting a new record for the second consecutive month. The rise in memory semiconductor prices (September DRAM: 6.3 dollars, NAND: 3.8 dollars) and continued demand for AI servers led to robust exports centered on high value-added memory products such as DDR5 and HBM.

Display exports (1.92 billion dollars, up 1.3%) rebounded due to the wider adoption of OLED panels and recovering demand from downstream industries such as laptops and TVs. Telecommunications equipment (220 million dollars, up 38.3%) also performed well, driven by increased demand for automotive electronics in the United States and 5G equipment exports to India.

In contrast, exports of mobile phones (1.49 billion dollars, down 10.7%) and computers and peripherals (1.47 billion dollars, down 10.1%) declined due to sluggish component exports and base effects from the previous year. While exports of finished mobile phones rose to 420 million dollars, up 55.8%, component exports (1.07 billion dollars, down 23.6%) were weak. For computers and peripherals, SSD exports fell to 1.09 billion dollars, down 12.7%.

By region, the proportion of semiconductors reached 65.3%, leading to a significant increase in exports to Taiwan (4.29 billion dollars, up 53.5%). Exports to China (including Hong Kong) were 9.24 billion dollars (up 1.1%), Vietnam 4.06 billion dollars (up 20.8%), the European Union 1.3 billion dollars (up 22.8%), and Japan 390 million dollars (up 13.0%), all showing growth. In contrast, exports to the United States decreased by 4.0% to 2.91 billion dollars.

ICT imports totaled 13.78 billion dollars, up 10.4% year-on-year. Imports of displays (360 million dollars, up 1.0%), mobile phones (1.19 billion dollars, up 22.8%), and computers and peripherals (1.49 billion dollars, up 31.9%) increased, while semiconductor imports fell by 1.2% to 6.48 billion dollars. The main import sources were China (including Hong Kong) at 4.58 billion dollars (down 2.4%), Taiwan at 2.34 billion dollars (down 6.2%), and Japan at 1.11 billion dollars (down 11.3%).

The trade surplus was maintained in semiconductors (10.13 billion dollars), displays (1.56 billion dollars), and mobile phones (310 million dollars). By region, surpluses were recorded with China (4.67 billion dollars), Vietnam (2.71 billion dollars), the United States (2.13 billion dollars), and the European Union (530 million dollars), while there was a deficit of 710 million dollars with Japan.

The government stated, "The expansion of exports of high value-added ICT products such as AI semiconductors and OLEDs is serving as a key driver for economic recovery," adding, "Despite uncertainties in the global supply chain, the ICT industry will continue to lead the overall export rebound."

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