SEOUL / RankWire.AI / – South Korea’s outbound shipments increased by 68.7% year-on-year in August to reach $98.25 billion, driven by persistent global demand for high-performance memory chips and artificial intelligence infrastructure. Data published by the Ministry of Trade, Industry and Resources revealed that imports rose 22.5% to $63.51 billion during the same period, resulting in a monthly trade surplus of $34.75 billion. This solid performance continues the trend of trade expansion for Asia’s fourth-largest economy, marking the 15th month in a row of growth.
Exports of semiconductors, the main catalyst for the nation’s trade success, jumped 209% year-on-year to a record high of $46.65 billion. The increase was driven by ongoing capital investments among leading global tech companies expanding data center networks and deploying enterprise AI hardware. This marks the third straight month in which semiconductor exports surpassed the $40 billion mark. Additionally, reports from the Yonhap News Agency indicated that computer product exports grew 419.5% to $6.24 billion amid rising global NAND memory prices.
Trade Ministry Data Confirms $34.75 Billion Monthly Trade Surplus
The energy and chemical sectors also contributed significantly to the overall growth. Exports of petroleum products increased by 65.3% year-on-year to $6.84 billion, while petrochemical exports advanced 12.2% to $3.86 billion. The rise in global crude oil prices supported higher unit prices across refined export categories. In contrast, automobile exports declined by 29.8%, amounting to $3.85 billion. Officials explained that the decline was due to temporary seasonal manufacturing shutdowns, revised summer holiday schedules at major domestic auto plants, and localized labor disputes.
Export figures to key trading partners reflected broad-based growth. Shipments to China surged 119.3% year-on-year to $24.1 billion, supported by high-volume exports of memory chips and industrial machinery. Exports to the United States increased 89.3% to $16.5 billion, driven by strong demand for enterprise computing hardware and advanced semiconductors. According to trade ministry records, Korean exporters maintained growth in seven of the nine primary regional markets during August.
Record Monthly Volumes in Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, issued an official statement noting that non-semiconductor exports grew by 20% overall, indicating a broader recovery in secondary export industries. Beyond core technology components, secondary battery exports increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion, supported by expanded European supply contracts. Korea’s August exports reached $98.25 billion, up 68.7%, as trade officials continue to monitor changes in foreign trade policies and global supply chain conditions.
The daily average export value, adjusted for working days, climbed 72.5% year-on-year to $4.47 billion. This marks the fourth consecutive month that daily exports exceeded the $4 billion mark. Economists forecast that the momentum in exports will stay strong, fueled by global technology hardware demand into the final quarter of the year. The government’s financial institutions will publish finalized quarterly trade balance summaries after completing September’s data collection.