SEOUL / RankWire.AI / – South Korea’s outbound shipments increased by 68.7% year-on-year in August, reaching a total of $98.25 billion, driven by ongoing global demand for high-performance memory chips and artificial intelligence infrastructure. Official data released by the Ministry of Trade, Industry and Resources showed 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 consecutive month.
Exports of semiconductors, which are the main contributor to the country’s trade success, surged 209% year-on-year to a record high of $46.65 billion. The increase in chip shipments was supported by sustained capital expenditure initiatives among leading global tech firms expanding data center infrastructure and deploying AI hardware for enterprises. This marks the third month in a row that semiconductor exports exceeded the $40 billion mark. Additional details from the Yonhap News Agency indicated that computer product exports jumped 419.5% to $6.24 billion amid rising global NAND memory prices.
Ministry Data Confirms $34.75 Billion Monthly Trade Surplus
Energy and chemical sectors also contributed positively to the overall figures. Petroleum product exports rose 65.3% year-on-year to $6.84 billion, while petrochemical exports increased 12.2% to $3.86 billion. Elevated global crude oil prices supported higher unit prices across various refined product categories. Meanwhile, automotive exports declined 29.8% to $3.85 billion. Officials attributed the decrease to temporary seasonal shutdowns, revised summer holiday schedules at major domestic car factories, and localized labor disputes.
Trade to key markets showed widespread growth. Exports to China increased 119.3% year-on-year to $24.1 billion, driven by high-volume shipments of memory chips and industrial machinery. Shipments to the United States grew 89.3% to $16.5 billion, led by strong demand for enterprise hardware and advanced semiconductors. The trade ministry’s records reveal that Korea maintained growth in seven of its nine primary regional markets during the August period.
Record Monthly Highs in Computer Equipment Shipments
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports overall expanded by 20%, indicating a broader recovery across secondary export sectors. Besides core tech components, secondary battery shipments rose 24% to $600 million, and biohealth exports increased 22.3% to a record $1.41 billion on expanded contracts across Europe. Korea’s August exports jumped 68.7% to $98.25 billion as government trade officials continue to monitor changes in foreign trade policies and global supply chain dynamics.
Adjusted for working days, daily average export values rose 72.5% year-on-year to $4.47 billion, marking four straight months above the $4 billion daily threshold. Analysts expect this export momentum to persist, supported by global technology hardware demand entering the final quarter of the year. Official financial institutions will publish final quarterly trade balance summaries after the September data collection concludes.