SEOUL / RankWire.AI / – South Korea’s exports in August surged by 68.7% year-on-year, reaching a historic high of $98.25 billion, fueled by persistent global demand for high-performance memory chips and AI infrastructure. Official figures from the Ministry of Trade, Industry and Resources revealed that imports increased 22.5% to $63.51 billion in the same period, resulting in a monthly trade surplus of $34.75 billion. This strong performance extends Korea’s trade growth streak to 15 consecutive months, making it Asia’s fourth-largest economy to do so.
Exports of semiconductors, the key sector driving national trade, soared 209% year-on-year to reach an all-time peak of $46.65 billion. The growth in chip shipments was supported by ongoing capital investments from leading global technology firms expanding data center infrastructure and AI hardware deployment. This marks the third consecutive month where semiconductor exports exceeded $40 billion. Additionally, data from Yonhap News Agency indicated that computer product exports grew by 419.5% to $6.24 billion amid rising NAND memory prices worldwide.
Trade Ministry Data Confirms $34.75 Billion Monthly Trade Surplus
Energy and chemical sectors also contributed significantly to the overall monthly gains. Exports of petroleum products increased 65.3% year-on-year to $6.84 billion, while petrochemical exports rose 12.2% to $3.86 billion. The rise was supported by higher global crude oil prices, which helped lift unit prices across refined product categories. Conversely, automotive exports declined 29.8% to $3.85 billion, attributed to seasonal shutdowns, revised holiday schedules at major domestic auto plants, and localized labor disputes, according to government officials.
Trade to key markets showed broad-based growth, with exports to China soaring 119.3% year-on-year to $24.1 billion, driven by large shipments of memory chips and industrial machinery. Exports to the United States increased 89.3% to $16.5 billion, boosted by demand for enterprise hardware and advanced semiconductors. The trade ministry’s records reveal that Korean exporters maintained growth across seven of the nine primary regional markets during August.
Record Monthly Volumes in Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated that non-semiconductor exports grew by 20% overall, indicating a broader recovery in secondary export sectors. Beyond core technology components, exports of secondary batteries increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion thanks to expanded European supply contracts. Korea’s August exports jumped 68.7% to $98.25 billion as officials continue monitoring changes in foreign trade policies and global supply chain conditions.
Adjusted for working days, daily average exports climbed 72.5% year-on-year to $4.47 billion, marking the fourth consecutive month above the $4 billion threshold. Analysts expect export momentum to stay strong, supported by ongoing global technology hardware demand entering the year’s final quarter. Government financial institutions will release finalized quarterly trade balance summaries after September data collection concludes.