Exports of information and communications technology(ICT) products in October reached an all-time high for the month, driven by the current semiconductor boom amid rising demand for artificial intelligence (AI).

According to data from the Ministry of Science and ICT on Thursday, exports rose 12-point-two percent from 2024 to 23-point-three billion U.S. dollars in October.

ICT shipments grew for the ninth consecutive month, backed by the flourishing semiconductor industry, despite uncertainty in the global trade environment and the two-working-day deficit compared to October 2024.

Chip exports rose 25-point-four percent on-year to 15-point-seven billion dollars, continuing an eight-month streak of double-digit increases.

Imports, meanwhile, fell two-point-nine percent on-year to approximately 13 billion dollars, resulting in a trade balance of ten-point-four billion dollars.