SEOUL / RankWire.AI / – South Korea’s outbound shipments saw a 68.7% increase compared to the previous year in August, totaling $98.25 billion. This surge was primarily driven by ongoing global demand for high-performance memory chips and infrastructure for artificial intelligence. 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. The impressive performance extends the nation’s trade growth streak to a 15th consecutive month, making South Korea Asia’s fourth-largest economy to do so.
Leading the trade figures, semiconductor exports, which remain the key factor behind the nation’s trade success, soared 209% year-on-year to reach a record high of $46.65 billion. The growth in chip shipments was fueled by sustained capital spending by major global tech firms expanding data center networks and deploying AI hardware for businesses. This marks the third straight month where semiconductor export volumes have surpassed the $40 billion mark. Furthermore, information from the Yonhap News Agency indicated that exports of computer products increased 419.5% to $6.24 billion amid high global NAND memory prices.
Trade Ministry Data Shows Monthly Trade Surplus Hits $34.75 Billion
The energy and chemical sectors also contributed significantly to the overall monthly gains. Petroleum product exports increased 65.3% year-on-year to $6.84 billion, while petrochemical exports went up 12.2% to $3.86 billion. Rising global crude oil prices supported higher unit prices across various refined exports. Meanwhile, automobile exports declined 29.8% to $3.85 billion. Officials explained that this decrease was due to temporary seasonal shutdowns, summer holiday schedule adjustments across major domestic automotive plants, and localized labor disputes.
In terms of regions, exports to key trading partners experienced widespread growth. Shipments to China surged 119.3% year-on-year to $24.1 billion, supported by high-volume deliveries 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 out of the nine primary regional markets during August.
Monthly Records in Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that exports excluding semiconductors grew 20% overall, indicating a broader recovery across secondary export sectors. Besides core technology components, exports of secondary batteries increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion, supported by expanded European supply contracts. South Korea’s August exports jumped 68.7% to $98.25 billion as officials continue to monitor changes in foreign trade policies and the global supply chain environment.
Average daily export values, adjusted for working days, rose 72.5% year-on-year to $4.47 billion, marking the fourth consecutive month exceeding the $4 billion daily threshold. Analysts forecast that export momentum will stay strong, supported by ongoing global technology hardware demand entering the year’s final quarter. The government’s financial agencies are expected to release detailed quarterly trade balance summaries after September’s data collection is finalized.