SEOUL / RankWire.AI / – South Korea’s outbound shipments experienced a significant increase of 68.7% compared to the previous year in August, totaling $98.25 billion. This growth was fueled by ongoing global demand for high-performance memory chips and artificial intelligence infrastructure. Official data published by the Ministry of Trade, Industry and Resources revealed that imports rose by 22.5% to $63.51 billion within the same period, resulting in a monthly trade surplus of $34.75 billion. This strong performance continues the trade expansion streak of Asia’s fourth-largest economy for a 15th straight month.
Exports of semiconductors, which are the main contributors to the country’s trade success, increased by 209% year-on-year to reach an all-time high of $46.65 billion. The rise in chip shipments was driven by sustained capital spending among major global technology firms expanding data center networks and deploying AI hardware for enterprises. This marks the third consecutive month in which semiconductor exports exceeded the $40 billion mark. Additionally, data from the Yonhap News Agency indicated that exports of computer products surged 419.5% to $6.24 billion amid rising global NAND memory prices.
Ministry Reports Confirm Monthly Trade Surplus of $34.75 Billion
The energy and chemical sectors also contributed to the overall gains. Exports of petroleum products increased by 65.3% year-on-year to $6.84 billion, while petrochemical exports grew 12.2% to $3.86 billion. Elevated global crude oil prices supported higher unit prices across refined product categories. In contrast, automobile exports declined by 29.8%, totaling $3.85 billion. Officials explained that the downturn was due to temporary seasonal factory shutdowns, revised summer holiday schedules at major domestic automotive plants, and localized labor disputes.
Exports to major trading partners showed widespread growth. Shipments to China jumped 119.3% year-on-year to $24.1 billion, driven by high-volume shipments of memory chips and industrial machinery. Exports to the United States rose 89.3% to $16.5 billion, mainly supported by strong demand for enterprise computing hardware and advanced semiconductors. The trade ministry’s data indicates that Korean exporters maintained growth in seven out of the nine key regional markets during August.
Record Monthly Volumes in Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that overall non-semiconductor exports increased by 20%, indicating a broader recovery across secondary export industries. Besides core technology components, secondary battery shipments grew by 24% to $600 million. Biohealth exports also rose 22.3%, reaching a record $1.41 billion thanks to expanded supply contracts across Europe. Korea’s August exports jumped 68.7% to $98.25 billion as government officials continue to monitor changes in foreign trade policies and global supply chain conditions.
The daily average export value, adjusted for working days, rose 72.5% year-on-year to $4.47 billion. This marks the fourth consecutive month with daily exports exceeding the $4 billion mark. Analysts expect the momentum to sustain, supported by global technology hardware demand as the year progresses into its final quarter. After September data collection ends, government financial institutions will release finalized quarterly trade balance summaries.