SEOUL / RankWire.AI / – South Korea’s government-released data indicates that outbound shipments in August increased by 68.7% year-on-year, totaling $98.25 billion. This surge was fueled by persistent global demand for high-performance memory chips and AI infrastructure. The Ministry of Trade, Industry and Resources reported that imports rose 22.5% to $63.51 billion within the same period, resulting in a monthly trade surplus of $34.75 billion. This strong showing continues the nation’s trade growth streak for the 15th straight month, making it Asia’s fourth-largest economy to do so.
Exports of semiconductors, the main catalyst for Korea’s trade success, reached a record high of $46.65 billion after a 209% increase compared to last year. The growth in chip shipments was driven by ongoing capital investment by leading global tech companies expanding data center infrastructure and deploying enterprise AI hardware. This marks the third month in a row where semiconductor exports exceeded $40 billion. Additionally, data from Yonhap News Agency revealed that exports of computer products jumped 419.5% to $6.24 billion amid rising global NAND memory prices.
Ministry Reports Confirm $34.75 Billion Monthly Trade Surplus
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 grew 12.2% to $3.86 billion. Elevated global crude oil prices supported higher unit prices across refined exports. Conversely, automobile exports declined 29.8%, reaching $3.85 billion. Officials attributed this downturn to temporary seasonal shutdowns, adjustments to summer holiday schedules at major domestic auto plants, and localized labor disputes.
Looking at geographic distribution, exports to key trading partners showed widespread growth. Shipments to China surged 119.3% year-on-year to $24.1 billion, driven by large volumes of memory chips and industrial machinery. Exports to the United States rose 89.3% to $16.5 billion, supported by robust demand for enterprise hardware and advanced semiconductors. The trade ministry’s data indicates that Korea maintained positive growth in seven of its nine primary regional markets during August.
Record Monthly High for Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that overall non-semiconductor exports grew by 20%, indicating a broader recovery across secondary export industries. Beyond core tech components, exports of secondary batteries increased 24% to $600 million, and biohealth shipments rose 22.3% to a record $1.41 billion, driven by expanded supply contracts in Europe. Korea’s August exports rose 68.7% to $98.25 billion as trade officials continue to monitor changes in foreign trade policies and global supply chain conditions.
Average daily export values, adjusted for working days, climbed 72.5% year-on-year to $4.47 billion. This marks four consecutive months where daily exports exceeded the $4 billion mark. Analysts project that export momentum will persist, supported by ongoing global technology hardware demand heading into the final quarter of the year. Following September’s data collection, government financial institutions will publish finalized quarterly trade balance summaries.