Wednesday, January 4, 2006
South Korea's electronics exports rose to $78.02 billion in 2005, up a modest 5 percent from a year ago, due mainly to surging sales of LCDs, digital TVs and semiconductors, the Ministry of Information and Communication reported Wednesday.
The growth rate slowed compared to 2004’s year-on-year growth of 29.9 percent. Eroding prices in semiconductor and hand phones amid fierce competition contributed to the slowdown, the ministry said.
Imports rose 8.8 percent to $44.28 billion, giving South Korea a $33.73 billion electronics trade surplus, the government said. The trade surplus represented 143 percent of the country’s overall trade surplus of $23.55 billion, reflecting the electronics industry’s dominance of the Korean economy.
The ministry forecast that 2006 electronics exports will grow 13.2 percent year-on-year to $88.3 billion, due largely to brisk sales of displays, DTVs and digital multimedia broadcasting (DMB)-enabled phones.
South Korea’s overall exports stood at $284.7 billion in 2005, a 12.2-percent rise from the previous year. Imports rose 16.3 percent over 2004 to $261.15 billion.
By: DocMemory
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