SEOUL / RankWire.AI / – South Korea’s outbound shipments increased by 68.7% year-on-year in August to reach $98.25 billion, supported by persistent global demand for high-performance memory chips and artificial intelligence infrastructure. Official data issued by the Ministry of Trade, Industry and Resources revealed that imports grew 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 straight month.
The leading sector driving the nation’s trade figures, semiconductor exports, surged 209% year-on-year to reach an all-time high of $46.65 billion. The increase in chip shipments was fueled by ongoing capital expenditure initiatives among major global tech companies expanding data center infrastructure and enterprise AI hardware. Notably, this marks the third month in a row where semiconductor export volumes have surpassed $40 billion. Additionally, data released by 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 Shows $34.75 Billion Monthly Surplus
Energy and chemical sectors also made significant contributions to the overall gains. Exports of petroleum products rose 65.3% year-on-year to $6.84 billion, while petrochemical exports increased 12.2% to $3.86 billion. The rise in global crude oil prices supported higher unit prices across refined product categories. Conversely, automobile exports declined 29.8%, amounting to $3.85 billion. Officials attributed this downturn to temporary seasonal shutdowns, revised summer holiday schedules at major domestic automotive plants, and localized labor disputes.
Looking at different regions, exports to key trading partners showed broad-based growth. Shipments to China soared 119.3% year-on-year to $24.1 billion, driven by large-volume shipments of memory chips and industrial machinery. Exports to the United States increased 89.3% to $16.5 billion, supported by strong demand for enterprise computing hardware and advanced semiconductors. Data from the trade ministry indicates that Korean exporters maintained positive growth across seven of the nine primary regional markets during August.
Record Monthly Volumes Achieved in Computer Equipment Exports
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports grew by 20%, reflecting a broader recovery across secondary export sectors. In addition to core technology components, exports of secondary batteries rose 24% to $600 million, and biohealth shipments increased 22.3% to a record $1.41 billion thanks to expanded supply contracts across Europe. Korea’s August exports jumped 68.7% to $98.25 billion as trade officials continue to monitor global supply chain conditions and changes in foreign trade policies.
Adjusted for working days, the daily average export value rose 72.5% year-on-year to $4.47 billion, marking the fourth consecutive month where daily exports exceeded the $4 billion threshold. Economists project that this momentum will likely sustain, supported by ongoing global technology hardware demand as the year approaches its final quarter. Following the close of September, government financial institutions will release finalized quarterly trade balance summaries.