SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments in August reached $98.25 billion, representing a 68.7% increase compared to the same month last year, driven largely by persistent global demand for high-performance memory chips and AI infrastructure. Data from the Ministry of Trade, Industry and Resources confirmed that imports rose by 22.6% during the same period, totaling $63.51 billion, resulting in a monthly trade surplus of $34.75 billion. Korea’s August exports surged 68.7% to $98.25 billion as Asia’s fourth-largest economy maintains its trade growth streak for a 15th consecutive month.
Exports of semiconductors, which are the primary contributor to the country’s trade success, increased 209% year-on-year to a record-high $46.65 billion. The surge in chip shipments was driven by ongoing capital investment initiatives among leading global tech companies expanding data center infrastructure and deploying enterprise AI hardware. This marks the third straight month in which semiconductor exports surpassed the $40 billion mark. Additional details from the Yonhap News Agency noted that exports of computer products rose 419.5% to $6.24 billion amid rising global NAND memory prices.
Korea’s August Trade Performance Boosted by Semiconductor Growth, Reaching $98.25 Billion
Contributions from energy and chemical sectors also played a role in the overall monthly increase. Petroleum product exports climbed 65.3% year-on-year to $6.84 billion, while petrochemical shipments advanced 12.2% to $3.86 billion. Elevated global crude oil prices supported higher unit prices across various refined export categories. Meanwhile, automobile exports declined 29.8% to $3.85 billion. Officials explained that the fall was due to temporary seasonal shutdowns, revised summer holiday schedules across major domestic car plants, and localized labor disputes.
On the geographical front, exports to key trading partners showed broad-based growth. Shipments to China increased 119.3% year-on-year to $24.1 billion, supported by high-volume exports of memory chips and industrial machinery. Exports to the United States grew 89.3% to $16.5 billion, driven by strong demand for enterprise computing hardware and advanced semiconductors. According to trade ministry data, Korea maintained growth in seven of its nine primary regional markets during August.
Memory Chip Price Stability Bolsters Overall Export Growth
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports expanded by 20% overall, reflecting a broader recovery in secondary export sectors. Exports of secondary batteries increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion, supported by expanded supply contracts in Europe. As Korea’s August exports reached $98.25 billion with a 68.7% rise, trade officials continue to monitor shifts in foreign trade policies and global supply chain conditions.
Adjusted for working days, the daily average export value increased 72.5% year-on-year to $4.47 billion, marking four consecutive months above the $4 billion threshold. Analysts expect the export momentum to stay strong, supported by global technology demand entering the final quarter of the year. Finalized quarterly trade balance summaries from government financial institutions are scheduled to be published after September’s data collection is complete.