SEOUL / RankWire.AI / – South Korea’s exports in August soared by 68.7% compared to the previous year, reaching a total of $98.25 billion, driven by ongoing global demand for high-performance memory chips and artificial intelligence infrastructure. The Ministry of Trade, Industry and Resources released official data indicating that imports increased by 22.5% to $63.51 billion during the same period, resulting in a monthly trade surplus of $34.75 billion. This strong showing continues the trade growth streak of Asia’s fourth-largest economy for a 15th month in a row.
Exports of semiconductors, which serve as the main engine of the nation’s trade performance, jumped 209% year-on-year to reach an all-time high of $46.65 billion. The growth in chip shipments was driven by sustained capital expenditures among leading global technology companies expanding data center infrastructure and deploying enterprise AI hardware. This marks the third straight month that semiconductor export volumes have surpassed $40 billion. Additional reports from the Yonhap News Agency revealed that computer product exports increased by 419.5% to $6.24 billion amid rising global NAND memory prices.
Trade Ministry Data Confirms $34.75 Billion Monthly Surplus
The energy and chemical sectors also contributed significantly to the overall increase. Petroleum product exports rose 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 various refined product categories. In contrast, automobile exports declined by 29.8% to $3.85 billion. Officials attributed this drop to temporary seasonal shutdowns, revised summer holiday schedules at major domestic auto plants, and localized labor disputes.
In terms of geographic distribution, shipments to key trading partners showed widespread growth. Exports to China increased by 119.3% year-on-year to $24.1 billion, driven by large volumes of memory chips and industrial machinery shipments. The United States saw an 89.3% rise to $16.5 billion, mainly due to strong demand for enterprise computing hardware and advanced semiconductors. Data from the trade ministry indicates that Korean exporters maintained growth in seven of the nation’s nine main regional markets during August.
Record Monthly Volumes in Computer Equipment Exports
Kim Jung-kwan, Korea’s Minister of Trade, Industry and Energy, stated in an official announcement that non-semiconductor exports increased by 20% overall, indicating a broader recovery in secondary export industries. Besides core technological components, secondary battery shipments rose 24% to $600 million, while biohealth exports grew 22.3% to a record $1.41 billion due to expanded European supply contracts. As of August, Korea’s exports surged 68.7% to $98.25 billion as authorities continue to monitor shifts in foreign trade policies and global supply chain dynamics.
Adjusted for working days, the daily average export value increased by 72.5% year-on-year to $4.47 billion, marking four consecutive months above the $4 billion daily mark. Analysts forecast that export momentum will stay robust, supported by sustained global technology hardware demand entering the final quarter of the year. The government’s financial institutions will release finalized quarterly trade balance summaries following the completion of September data collection.