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South Korea's Digital Product Exports Up in May
Jun 27, 2003
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South Korea's digital product exports in May registered U.S. $5.31 billion, up 4.2 percent from a year ago, and imports accounted for $3.25 billion, up 8.1 percent, resulting in a trade surplus of $2.06 billion, the Ministry of Commerce and Industry said Thursday.

The surplus was the fourth in a row since February, the ministry said.

Combined exports for this year through May jumped to $27.08 billion, up 13.6 percent annually, and cumulative imports increased to $17.24 billion, up 20.3 percent, with a resultant surplus of $9.84 billion, according to the ministry.

However, the export increase rate slowed down to 4.2 percent in May from 12 percent in the preceding month due to the spread of SARS and a nationwide strike by cargo truck unionists, the ministry said.

By export item, mobile phones posted a 12.8-percent export growth rate, with DRAMs at 4 percent, notebook PCs at 31.9 percent, and monitors at 9.1 percent. However, desktop computers suffered a whopping 72.2 percent decline.

The increase rate of exports to China went down to 37.8 per cent from 57.5 percent in April, and those of shipments to the U.S. and Canada also declined to 15.9 percent and 11.4 percent, respectively, due to the highly contagious disease, the delayed recovery of the global IT industry, and contracted consumer sentiment, the ministry said.

On the other hand, exports to the Middle East grew by 17.9 per cent thanks to the relatively quick ending of the Iraq War.

In terms of imports, notebook PCs jumped 46.7 percent, with printers at 45.8 percent and flat displays and sensors at 28.9 percent, the ministry said. Imports from Japan went up by 11 per cent to $816 million, and those from China increased 42.2 per cent to $458 million, it added. (Asia Pulse, Yonhap)

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