MIC News IT exports for July recorded 8.6 million USD.a 3.5% increase compared to the previous years. According to the Ministry of Information and Communication, despite overall reduction of export costs and sluggish exports of mobile phones, IT exports for July recorded 8.6 billion USD, a 3.5% increase compared to the previous year. With imports recording 4.7 billion USD mainly of semiconductors and PCs, overall IT trade volume recorded a profit of 3.8 billion USD. Exports of display panels, semiconductors, and digital TV increased, however exports of mobile phones decreased slightly. Exports of semiconductors recorded 2.9 billion USD, which is a 6.6% increase compared to last July of year, thanks to Logic and MCP as well as DRAM. As for mobile phone terminals, exports to US and EU were on the decrease due to sluggish growth of the premium market. On the other hand, exports to newly emerging markets such as Brazil, India, and Mexico increased by more than two digits, showing potential for export recovery. By recording 1 billion USD thanks to increased demand of large LCD TVs, panels posted exports of more than 1 billion USD for twelve consecutive months since last August. Digital TV recorded 630 million USD in export of parts necessary for overseas production in Mexico, Poland and China, and has been posting a two digit growth for the last six months. Its monthly exports also exceeded 600 million USD for the first time. Exports to China, including Hong Kong, increased, however exports to the US, EU and Japan decreased due to sluggish exports of mobile phones and panels. Thanks to the continuous growth of China as well as growth of mobile phones, semiconductors and panels, exports to China recorded 3 billion USD. But, due to last year's highly increased exports in terms of statistic numbers, the growth rate fell down to a one digit number. Exports to EU recorded 1.3 billion USD, which is a 5.1% decrease compared to last year, as exports for mobile phone terminals decreased whereas exports for panels showed favorable growth. Exports to the US recorded 980 million USD due to decreased exports of semiconductors and mobile phones, despite increased exports of display panels and digital TVs. As for Japan, exports stood at 510 million USD, which is a 12.5% decrease compared to the previous year due to decreased exports of panels amid the growth in semiconductors, mobile phones and storage devices. In the meanwhile, IT exports increased gradually despite the lowered price of IT products, however the growth rate remained at 3.5% due to reduced exports of mobile phones. Exports for the latter half of the year are expected to increase with the launch of new products like the Ultra edition and Chocolate Phone of Samsung and LG Electronics in overseas markets. Also, with seasonal demand, IT export is expected to be boosted.