Seoul: The Republic of Korea's exports of information and communication technology (ICT) products jumped 14.5 percent from a year earlier in July on record-high performance of chips, data showed Wednesday. Outbound shipments of ICT products reached US$22.19 billion last month, compared with $19.38 billion a year earlier. It marks the highest export volume for any July.
According to Emirates News Agency, imports gained 9.8 percent on-year to $13.32 billion, resulting in a trade surplus of $8.87 billion in the sector. The science ministry attributed the sharp increase in exports to record shipments of semiconductors, which spiked 31.2 percent on-year to $14.72 billion on higher memory chip prices amid growing investments in artificial intelligence servers by global companies.