S. Korea's increased ICT exports in August attributed to chips, computers

South Korea's exports of ICT products increased 0.3 percent on-year to US$15.24 billion in August, with a strong lift from memory chips, computers, and peripherals.

It was the third month in a row that monthly exports have moved up on-year.

The country had $9.19 billion ICT Imports in August, resulting in a $6.05 billion trade surplus.

South Korea's exports of ICT products plunged 15.3 percent on-year in April and 2.6 percent the following month before recovering in June with 1 percent growth, and in July with a 3.3 percent increase.

By segment, overseas sales of semiconductors reached $8.29 billion for a 2.6 percent gain, while computers and related products almost reached $1.34 billion.

Meanwhile, mobile devices, such as smartphones, dropped 33 percent to $700 million, and displays plunged 17 percent to $1.8 billion.

Shipments to the US shot up 18 percent to $1.75 billion, while those to China, the main destination for locally made ICT products, diminished 3.3 percent to $7.1 billion.

Shipments to Vietnam fell 2 percent to $2.76 billion.

South Korea's overall exports in August stood at $39.66 billion, down 9.9 percent on-year and marking the sixth consecutive month that outbound shipments waned.