SEOUL, February 01 (AJP) -South Korea’s exports jumped more than 30 percent in January from a year earlier, extending their on-year growth streak to eight consecutive months, driven by steamy semiconductor shipments.
Exports totaled $65.85 billion, up 33.9 percent from a year earlier, marking the highest January figure on record, according to data released Sunday by the Ministry of Trade, Industry and Energy.
Semiconductor exports, the country’s top export item, more than doubled from a year earlier to $20.54 billion, surpassing the $20 billion mark for a second straight month.
The 102.7 percent on-year jump reflected surging demand for AI server chips and sustained gains in memory prices. January chip exports ranked as the second-highest monthly total on record, following December’s $20.8 billion, and extended a streak of 10 consecutive monthly record highs for the period.
Average daily exports rose 14.0 percent to $2.8 billion, also the highest ever for January. The ministry attributed the strong performance to robust semiconductor demand and an increase in working days, as the Lunar New Year holiday fell in February this year, compared with January a year earlier.
Monthly exports have remained on an upward trajectory since June last year. In January, exports increased across 13 of the country’s 15 major product categories.
Automobile exports climbed 21.7 percent on year to $6.07 billion, the second-highest January figure on record, supported by strong sales of hybrid and electric vehicles and the longer factory schedule.
Other sectors posting solid gains included wireless communication devices ($2.03 billion, up 66.9 percent), displays ($1.38 billion, up 26.1 percent), petroleum products ($3.74 billion, up 8.5 percent) and bio-health products ($1.35 billion, up 18.3 percent).
By contrast, exports of petrochemicals ($3.52 billion, down 1.5 percent) and ships ($2.47 billion, down 0.4 percent) edged lower.
By destination, shipments to the United States rose 29.5 percent on year to $12.02 billion, setting a new January record despite ongoing tariff concerns. Exports to China also rebounded sharply, jumping 46.7 percent to $13.5 billion.
Imports increased 11.7 percent from a year earlier to $57.11 billion, resulting in a trade surplus of $8.74 billion for the month. South Korea has now posted a monthly trade surplus for 12 consecutive months, starting in February last year.
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