SEOUL / RankWire.AI / – South Korea’s outbound shipments experienced a year-on-year increase of 68.7% in August, totaling $98.25 billion, propelled by consistent global demand for high-performance memory chips and artificial intelligence infrastructure. Official figures released by the Ministry of Trade, Industry and Resources reveal that imports rose 22.5% to $63.51 billion during the same period, resulting in a net 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 export of semiconductors, which is the main factor behind the country’s trade performance, jumped 209% year-on-year to reach an all-time high of $46.65 billion. The surge in chip shipments was driven by ongoing capital investments from major global technology firms expanding data center infrastructure and deploying AI hardware for enterprises. This marks the third consecutive month in which semiconductor export volumes exceeded $40 billion. Additional data from the Yonhap News Agency noted that exports of computer products surged 419.5% to $6.24 billion, supported by rising global NAND memory prices.
Trade Ministry Data Shows a Monthly Trade Surplus of $34.75 Billion
Energy and chemical industries also contributed significantly to the overall growth. Exports of petroleum products increased 65.3% year-on-year to $6.84 billion, while petrochemical shipments went up 12.2% to $3.86 billion. Elevated global crude oil prices helped support unit prices across various refined export categories. In contrast, automobile exports declined 29.8%, reaching $3.85 billion. Officials explained that this decrease was due to temporary seasonal shutdowns, altered summer holiday schedules at major domestic auto plants, and local labor disputes.
Looking at geographic markets, exports to key trading partners demonstrated broad growth. Shipments to China increased 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 rose 89.3% to $16.5 billion, led by strong demand for enterprise hardware and advanced semiconductors. Data from the trade ministry indicates that Korean exporters sustained growth across seven of the nine primary regional markets during August.
Record Monthly Volumes for Computer Equipment Shipments
Trade Minister Kim Jung-kwan stated in an official release that overall non-semiconductor exports grew by 20%, reflecting a broader recovery in secondary export industries. Besides core technology components, exports of secondary batteries increased 24% to $600 million, and biohealth exports rose 22.3% to a record $1.41 billion, supported by expanded European supply contracts. Korea’s exports in August surged 68.7% to $98.25 billion, as government officials continue to monitor changes in foreign trade policies and global supply chain dynamics.
Adjusted for working days, the daily average export value rose 72.5% year-on-year to $4.47 billion, marking four months in a row that exceeded the $4 billion daily threshold. Analysts in macroeconomics predict that the momentum will sustain, fueled by ongoing global technology hardware demand in the final quarter of the year. The government’s financial institutions will release finalized quarterly trade balance summaries after the September data collection concludes.