Key facts
- South Korea's exports increased 45.3% year-on-year in the first 10 days of August.
- Chip exports saw a substantial rise of 155.4%, reaching $9.95 billion.
- The total trade surplus for the period was $1.8 billion.
- Exports to China more than doubled, while those to Vietnam also saw significant growth.
- Automobile exports experienced a sharp decline of 80.9%.
South Korea's exports experienced a significant surge of 45.3% in the first 10 days of August compared to the same period last year, reaching $21.3 billion. This robust growth was largely driven by a substantial increase in semiconductor exports, which soared by 155.4% to $9.95 billion, reflecting strong global demand amid the artificial intelligence boom. Semiconductors now account for 46.8% of the country's total exports. Imports also rose by 23.1% to $19.5 billion, resulting in a trade surplus of $1.8 billion for the period. Petroleum product exports also saw a notable increase of 65.3%. However, automobile exports declined sharply by 80.9%. Exports to China more than doubled, while shipments to Vietnam also grew substantially. Exports to the United States saw a marginal decrease. Cumulatively, year-to-date exports have increased by 50.3% to $616.3 billion, with a total trade surplus of $169.5 billion.