Global Surge in AI Investment Drives ICT Exports to Record High Last Month

July ICT Exports Reach USD 53.36 Billion

Account for 54% of Total National Exports

Driven by the global expansion of AI investments, exports in the information and communications technology (ICT) sector have maintained strong performance for the second consecutive month, consistently exceeding USD 50 billion. Last month, exports set a new record high, surpassing USD 53.3 billion.

The Ministry of Trade, Industry and Energy and the Ministry of Science and ICT announced on the 14th that ICT exports in July reached USD 53.36 billion, marking a 140.6% increase from the same month last year (USD 22.17 billion).

The Asia Business Daily DB

Last month’s ICT exports, fueled by increased global AI investment, remained above USD 50 billion for the second month in a row and ranked first among all July export figures to date. The trade surplus also maintained an upward trend, staying above the USD 30 billion range for three consecutive months.

By region, exports to all major countries increased compared to the same period last year: the United States (187.0%), China (including Hong Kong, 194.7%), the European Union (202.0%), Taiwan (26.3%), Vietnam (115.7%), India (128.2%), and Japan (39.3%).

ICT imports in July amounted to USD 18.3 billion, a 37.3% increase compared to the same month last year (USD 13.33 billion). By item, key categories such as semiconductors (57.6%), mobile phones (44.7%), and computers and peripherals (31.0%) all saw increases. The trade balance posted a surplus of USD 35.06 billion.

An official from the Ministry of Trade, Industry and Energy stated, "ICT exports have accounted for more than half (54.0%) of the nation’s total exports (USD 98.89 billion) for three consecutive months, solidifying their position as a central pillar of Korea’s export-driven economy. Semiconductors, in particular, have recorded year-on-year growth of over 100% for seven consecutive months, driven by rising server memory exports fueled by increasing AI inference demand and growing supply of enterprise SSDs."

This content was produced with the assistance of AI translation services.