South Korea's Exports Surge 45.3% in First 10 Days of August on Strong Chip Demand
Key Takeaways
- •South Korea's exports rose 45.3% year-on-year to $21.3 billion in the first ten days of August, marking the highest figure ever recorded for that period.
- •Semiconductor exports skyrocketed 155.4% to $9.95 billion, driven by AI-related demand, and accounted for 46.8% of total exports.
- •Exports to China more than doubled to $6.7 billion, while shipments to Vietnam grew 45.4% to $2.39 billion and exports to the United States declined slightly by 0.2% to $2 billion.
- •Automobile exports fell sharply by 80.9% to $182 million, even as petroleum product exports climbed 65.3% to $1.99 billion.
- •Cumulative exports through Monday reached $616.3 billion with a year-to-date trade surplus of $169.5 billion.
South Korea's exports surged 45.3 percent year-on-year during the first ten days of August, driven by robust global demand for memory chips, according to data released Tuesday by the Korea Customs Service.
Outbound shipments totaled $21.3 billion in the August 1–10 period, up from $14.6 billion recorded in the same window a year earlier. The figure marks the highest ever for the first ten days of August. As one of the world's most trade-dependent major economies, South Korea's early-month customs data are widely tracked as a real-time barometer of global technology demand, particularly for semiconductors.
Imports rose 23.1 percent on-year to $19.5 billion during the same period, yielding a trade surplus of $1.8 billion.
By sector, semiconductor exports soared 155.4 percent to $9.95 billion, sustaining strong growth fueled by the global artificial intelligence boom. The country is home to Samsung Electronics and SK Hynix, the world's two largest memory chipmakers, making its chip export figures a closely watched indicator of the broader AI-driven buildout in data center infrastructure. Chips represented 46.8 percent of total exports over the period, an increase of 20.1 percentage points from the previous year.
Exports of petroleum products also climbed sharply, rising 65.3 percent to $1.99 billion. In contrast, automobile exports plunged 80.9 percent to $182 million.
By destination, shipments to China more than doubled to $6.7 billion, while exports to Vietnam jumped 45.4 percent to $2.39 billion. Exports to the United States, a key trading partner, edged down 0.2 percent to $2 billion.
Cumulative exports through Monday reached $616.3 billion, up 50.3 percent from a year earlier. The total trade surplus for the year so far stands at $169.5 billion. (Yonhap)
