Last month, exports in the information and communication technology (ICT) industry recorded the highest performance for May. Despite the uncertainty of U.S. tariffs, exports of major items such as semiconductors and communication equipment increased, achieving a strong performance.
According to the Ministry of Trade, Industry and Energy on the 13th, ICT exports last month were $20.88 billion, an increase of 9.6% compared to the same period last year. This is the highest performance for May, surpassing the boom in semiconductor exports in May 2022 ($20.2 billion) and May 2024 ($19.04 billion).
ICT imports were $11.53 billion, an increase of 0.5% compared to the same month last year ($11.47 billion). The trade balance recorded a surplus of $9.35 billion.
Although U.S. tariff uncertainty still exists, the growth trend in exports to the U.S. continues. Last month, ICT exports to the U.S. were $2.29 billion, an increase of 7.2% compared to the same period last year.
By item, semiconductor exports last month increased by 21.2% compared to the same period last year. Exports increased due to a rebound in the fixed prices of major products such as DRAM and NAND flash, and strong exports of high-value memory such as high-bandwidth memory (HBM) and the latest generic DRAM, DDR5.
Exports of communication equipment increased by 10.2% compared to the same period last year, driven by increased demand for automotive electronics in the U.S. and the introduction of 5G equipment in India. Cell phone exports increased by 2.8% compared to the same period last year. Although exports of some parts decreased, stockpiling demand for smartphone finished goods expanded due to the announcement of U.S. tariff imposition. Exports of computers and peripherals also increased as demand for storage devices (SSD) showed a recovery.
On the other hand, exports of displays decreased by 17.5% compared to the same period last year. This is attributed to the expansion of global demand slowdown concerns, along with U.S. tariff uncertainty.