By Park Hye Ri and Lee Jihae

Information and communications technology (ICT) last year saw its third-highest export performance in history.

The Ministry of Science and ICT on Jan. 18 said exports in the sector last year reached USD 183.6 billion, up 3.8% from 2019, and imports USD 112.6 billion, up 3.9%.

The export volume was also the third highest in history for the nation's ICT sector after USD 220.3 billion in 2018 and USD 197.6 billion in 2017. The spread of COVID-19 and the resulting economic fallout caused exports to decline 2.8% in the first half of last year from the same period in 2019. 

Exports began recovering in June, however, led by semiconductor exports to post seven straight months of growth.

ICT's export growth was led by semiconductors, computers and peripherals. Semiconductor exports rose to USD 100.25 billion, the second highest in history, amid rising chip demand due to the expansion of the noncontact economy and commercialization of 5G service.

Exports of computers and peripherals jumped 53.1% to USD 13.91 billion. Those of memory chips, which declined until the second quarter, rose 1.5% to USD 63.9 billion and those of system semiconductors set a record high of USD 30.3 billion.

Exports of displays fell 5.1% and that of cell phones dropped 6%. Those of the high value-added product OLED reached USD 10 billion for the third consecutive year as the launch of new smartphones decreased the export decline of this product.

The ICT sector last year saw a tentative trade surplus of USD 70.96 billion, up from USD 68.49 billion in 2019. By market, exports to China including Hong Kong reached USD 39.58 billion, Vietnam USD 20.05 billion and the U.S. USD 14.11 billion.

ICT exports this year are expected to grow thanks mainly to electronic components fueled by global economic recovery. The ministry said the rise in demand from industries like 5G service and artificial intelligence will mean semiconductors should lead ICT's export growth.

hrhr@korea.kr