The rebound in South Korea’s technology exports accelerated in July, illustrating the pace of recovery in global demand as countries emerge from pandemic-induced lockdowns.
Exports of information and communications products picked up 3.3% from a year ago, compared to a 1% rise in June, according to data Thursday from South Korea’s trade ministry. Technology exports had contracted in April and May as the pandemic kept large swathes of the globe in lockdown.
Shipments of memory chips rose 5% in July, after contracting in June. Exports of system semiconductors, which help process data, rose 8%, their third consecutive monthly increase. Mobile-phone sales rose 21%, their first rise since March. Sales of computer storage devices jumped 124%.
South Korea discloses total exports at the start of each month; they fell 7% in July. That’s followed later by a breakdown of technology shipments, which offer more clues about global demand.