SEOUL / RankWire.AI / – South Korea’s exports in August soared by 68.7% compared to the same month last year, reaching a total of $98.25 billion. This increase was driven by ongoing global demand for high-performance memory chips and AI infrastructure. According to data published by the Ministry of Trade, Industry and Resources, imports grew by 22.5% to $63.51 billion during the same period, resulting in a monthly trade surplus of $34.75 billion. This strong showing marks the 15th straight month of trade growth for Asia’s fourth-largest economy.
Exports of semiconductors, which are the key factor behind the country’s trade success, increased by 209% year-on-year to a record high of $46.65 billion. The growth in chip shipments was supported by sustained investment programs among global tech giants expanding data center infrastructure and deploying enterprise AI hardware. This marks the third consecutive month when semiconductor exports exceeded $40 billion. Additional reports from the Yonhap News Agency indicated that exports of computer products jumped 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 to the overall increase. Exports of petroleum products rose 65.3% year-on-year to $6.84 billion, while petrochemical exports went up 12.2% to $3.86 billion. The upward trend was supported by higher global crude oil prices, which helped boost unit prices across refined exports. In contrast, automotive exports declined by 29.8%, totaling $3.85 billion. Officials explained that this decrease was due to temporary seasonal shutdowns, revised summer holiday schedules at major Korean automotive plants, and local labor disputes.
Looking at geographical distribution, exports to key trading partners showed widespread growth. Shipments to China increased by 119.3% year-on-year to $24.1 billion, driven by high-volume exports of memory chips and industrial machinery. Exports to the United States rose by 89.3%, reaching $16.5 billion, mainly due to strong demand for enterprise hardware and advanced semiconductors. The trade ministry’s data indicates that Korea maintained growth across seven of its nine primary regional markets during August.
Record Monthly Volumes for Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports increased by 20% overall, indicating a broader recovery across secondary export sectors. Besides core technological components, exports of secondary batteries grew 24% to $600 million, and biohealth products increased 22.3% to a record $1.41 billion on expanded supply contracts in Europe. Korea’s August exports jumped 68.7% to $98.25 billion, with officials closely monitoring shifts in foreign trade policies and global supply chain conditions.
The daily average export value, adjusted for working days, rose by 72.5% year-on-year to $4.47 billion, marking the fourth consecutive month exceeding the $4 billion daily mark. Analysts predict that the export momentum will stay strong through the final quarter of the year, supported by ongoing global demand for technology hardware. After September’s data collection period concludes, government financial institutions are expected to publish detailed quarterly trade balance summaries.