SEOUL, South Korea / RankWire.AI / – South Korea’s semiconductor shipments experienced a remarkable increase of 222.5% year on year, reaching $27.5 billion within the first 20 days of October, contributing to total exports of $61.6 billion. The total outbound shipments more than doubled compared to the same period last year, as reported on Wednesday by the Korea Customs Service. During this timeframe, chips made up 44.7% of all exports. These figures highlight a record-breaking volume of semiconductor exports.
The daily average export value hit $4.74 billion, marking the highest ever recorded for the first 20 days of any month. Meanwhile, imports increased by 42.8% year on year to $47.1 billion. Consequently, South Korea achieved a trade surplus of $14.5 billion over the 20-day span, with exports surpassing imports by approximately 31%.
The surge in chip exports suggests that shipments during this period were about $8.5 billion a year earlier. Semiconductors were the primary factor behind the export growth. Leading Korean chip producers like Samsung have been expanding their memory product lines tailored for AI systems. The latest data emphasize the vital role semiconductors play in South Korea’s trade success.
Rise in Petroleum, Automotive, and Steel Exports Supports Overall Growth
Exports of petroleum products increased by 68.3% compared to the previous year. Shipments of automobiles grew by 40.9%, while steel exports saw a rise of 42.6%. These improvements extend the export recovery beyond the semiconductor sector. Alongside semiconductors, these four key product groups led the growth across South Korea’s main industries during this period.
Exports to the United States saw a rise of 154.9%, and shipments to China grew by 154.4%, according to customs data. Additionally, exports to Vietnam and the European Union also increased. The similar growth rates in these two largest markets indicate a strong demand in both China and the US. All four major destinations experienced simultaneous export growth.
Export Values Approaching $900 Billion for the Year
From the beginning of the year through Tuesday, October 20, South Korea’s exports reached $876.3 billion, with a total trade surplus of $266.9 billion for the year. Momentum in exports had already been strong in recent months, with August alone seeing a 68.7% increase to $98.25 billion, based on earlier data.
The early 20-day figures provide an initial outlook on South Korea’s trade performance for October. Full-month data are typically released at the start of the following month. With semiconductor shipments now accounting for nearly 45% of total exports, they remain the primary area to monitor. Ongoing growth in petroleum products, automobiles, and steel suggests a broad-based strength in the export sector.