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S KOREAN IT TRADE GENERATES $1 BLN SURPLUS IN FEB.
SEOUL, April 1 Asia Pulse - South Korea's information technology (IT) industry reaped a $US1.07 billion trade surplus in February, according to data from the Ministry of Information and Communications (MIC).
The MIC report showed $3.06 billion in IT exports, down 13 percent year-on-year, and $1.99 billion in IT imports, down 17.4 percent.
Excluding the sagging semiconductor sector, February IT exports and imports registered 1.8 percent and 16.1 percent drops to $1.92 billion and $830 million, respectively, leaving $1.09 billion in a trade surplus.
The monthly fall resulted mainly from reduced work days due to the three-day Lunar New Year holiday. Had work days been equal to those in February 2001, IT exports, excluding semiconductors, would have recorded a $284 million increase, the ministry said.
During the January-February period, IT shipments fell 12.4 percent year-on-year to $6.3 billion, and imports dropped 16.6 percent to $4.22 billion, leaving a $2.08 billion trade surplus.
IT exports, excluding semiconductors, were $4 billion, up 4.5 percent from a year earlier, and imports were $1.81 billion, down 12.8 percent, to post $2.19 billion in trade surplus.
By sector, telecommunications equipment exports rose 13.5 percent to $1.66 billion in the first two months, due mainly to robust mobile phone sales, while imports ...
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Source: HighBeam Research, S KOREAN IT TRADE GENERATES $1 BLN SURPLUS IN FEB.