Friday, January 7, 2011

Korea's IT Exports Hit All Time Record in 2010

As reported by the Joongang Daily, Korea's IT exports hit an all time record of $153.9 billion, more than double the volume of IT exports in 2003.  The nation's trade surplus in the information technology sector was also a record at $78.2 billion.   Semiconductor exports were the single biggest export item for South Korea, totaling $50.7 billion.   Exports of flat screens reached $33.8 billion dollars, making them the fourth largest export item, following ships and automobiles.  Exports of televisions increased 42.6 percent to $7.4 billion.  Despite a late-year surge in exports of smart phones, overall exports of mobile phones decreased by 13.7 percent during the year, but they still totaled $24.7 billion.
Ministry of Knowledge Economy sources are predicting that IT exports will increase between five and ten percent this year and reach $160 billion.  Further evidence that the ICT sector and certain key technologies that anchor the information age are the main drivers of South Korea's export-led economy.

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