IT sector exports of US$58 billion forecast this year

Exports in the IT sector are expected to grow by 14% to US$58 billion in 2001, which will keep the IT sector¡¯s trade surplus at last year¡¯s level of US$16 billion.

The Ministry of Information and Communications said Thursday that IT sector exports reached US$51 billion last year for a surplus of US$15.9 billion. The bright export forecast was made in consideration of expected export growth in the core IT sector. The trade surplus forecast was kept at last year¡¯s level in view of the contraction of the industry as a whole.

For wireless equipment, export growth will continue to hover around 19.3% (US$8.1 billion) this year owing to exports of portable phones, while information equipment such as PCs and monitors will see growth of 15.2% (US$11 billion).

In the area of broadcasting equipment, exports are forecast to surge by 57.1% to US$1.1 billion thanks to the strong export performance of digital set-top boxes. Semiconductor exports are expected to see 11.6% growth based on the assumption that prices rise from the second quarter to US$36.6 billion.

Kim Tae-Han freewill@donga.com