SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments increased by 68.7% year-on-year in August, totaling $98.25 billion. This surge was primarily supported by persistent global demand for high-performance memory chips and infrastructure for artificial intelligence. Data from the Ministry of Trade, Industry and Resources confirmed that imports grew 22.6% over the same period to $63.51 billion, resulting in a monthly trade surplus of $34.75 billion. Korea’s August exports saw a significant rise of 68.7% to $98.25 billion, marking the 15th straight month of trade expansion for Asia’s fourth-largest economy.
Exports of semiconductors, which are the main factor behind the country’s trade performance, soared 209% year-on-year to reach a record high of $46.65 billion. This growth was driven by ongoing capital expenditure initiatives among leading global technology companies, aimed at expanding data center infrastructure and deploying AI hardware for enterprises. This is the third consecutive month in which semiconductor exports have exceeded the $40 billion mark. Additional details from the Yonhap News Agency revealed that exports of computer products rose by 419.5% to $6.24 billion, amid elevated global NAND memory prices.
Korea’s August Exports Climb 68.7% to $98.25 Billion, Led by Semiconductor Record Highs
Energy and chemical sectors also contributed to the overall monthly growth. Petroleum product exports increased 65.3% year-on-year to $6.84 billion, while petrochemical exports grew 12.2% to $3.86 billion. Rising global crude oil prices supported higher unit prices across various refined export categories. In contrast, automobile exports declined by 29.8%, totaling $3.85 billion. Officials explained that the decrease was due to temporary seasonal shutdowns, adjustments to summer holiday schedules in major domestic automotive plants, and local labor disputes.
Looking at geographic regions, exports to major trading partners showed widespread growth. Shipments to China jumped 119.3% year-on-year to $24.1 billion, driven by high-volume exports 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. According to trade ministry data, Korea maintained growth across seven of its nine key regional markets during the August reporting period.
Memory Chip Prices Play a Key Role in Boosting Overall Export Figures
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports grew by 20% overall, indicating a broader recovery in secondary export industries. Besides core technology components, exports of secondary batteries increased 24% to $600 million, and biohealth shipments rose 22.3% to a record $1.41 billion amid expanded European supply contracts. Korea’s August exports reached $98.25 billion, up 68.7%, as trade officials continue to monitor changes in foreign trade policies and global supply chain conditions.
Adjusted for working days, the daily average export value rose 72.5% year-on-year to $4.47 billion. This marks four consecutive months where daily exports exceeded the $4 billion threshold. Analysts expect this export momentum to stay strong, supported by ongoing global technology hardware demand as the year enters its final quarter. The government’s financial institutions will release finalized quarterly trade balance summaries after completing the September data collection.