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South Korea’s exports stayed above $80 billion for a second straight month in April, extending the momentum after first crossing the threshold in March, led by a sharp rise in semiconductor shipments tied to the global boom in artificial intelligence.
With the Middle East war sending shock waves across industries, exports are being seen as a key support for the economy.
According to Yonhap, the Ministry of Trade, Industry and Energy released April trade figures on Thursday.
Exports rose 48.0% from a year earlier to $85.89 billion despite the war in the Middle East. After never having posted a $70 billion month, South Korea exceeded $80 billion in March for the first time and remained above that level in April.
April’s total was the second-highest monthly export figure on record, following March’s $86.6 billion. Average daily exports, adjusted for working days, also rose 48.0% to $3.58 billion, topping $3 billion for a third consecutive month.
Semiconductors drove the gains. Chip exports surged 173.5% to $31.9 billion, the second-highest monthly total on record after $32.8 billion in March. Semiconductors exceeded $30 billion for a second straight month and posted a record for the month for the 13th consecutive month.
Auto exports fell 5.5% to $6.17 billion, as logistics disruptions from the Middle East war and increased local production in the United States following U.S. tariffs weighed on shipments. Exports of eco-friendly vehicles, including electric and hybrid models, increased.
Petroleum product exports rose 39.9% to $5.11 billion on higher oil prices, but export volumes fell 36.0%. The ministry said exports of gasoline (down 43.0%), diesel (down 23.2%) and kerosene (down 99.9%) dropped sharply from a year earlier after export control measures were introduced for petroleum products.
Petrochemical exports increased 7.8% to $4.09 billion, though export volumes fell 20.9% as domestic supply rose.
Among 15 major export items, eight posted gains, including computers ($4.08 billion, up 515.8%) and wireless communications equipment ($1.62 billion, up 11.6%).
Exports to China climbed 62.5% to $17.7 billion, extending gains for a sixth straight month on stronger shipments of semiconductors and other IT products such as computers and wireless communications equipment.
Exports to the United States rose 54.0% to $16.33 billion, led by items such as semiconductors and computers that were described as exempt from tariffs.
Shipments to ASEAN rose 64.0% to $15.41 billion, and exports to the European Union increased 8.5% to $7.19 billion, also supported by semiconductors. Exports to the Middle East, however, fell 25.1% to $1.27 billion due to factors including logistics disruptions.
Imports increased 16.7% to $62.11 billion. Energy imports rose 7.5% to $10.61 billion, while non-energy imports climbed 18.8% to $51.51 billion.
The trade balance posted a $23.77 billion surplus in April, extending the surplus streak to 15 months.
Industry Minister Kim Jeong-gwan said April marked the first time the country recorded exports of more than $80 billion and a trade surplus of more than $20 billion for two consecutive months while the Middle East war continued for more than two months.
He attributed the results to expanding global AI investment, higher unit prices for petroleum products amid rising oil prices, and companies securing supply chains in advance.
Kim warned that export volatility could increase due to intensifying competition in key products and difficulties in securing raw materials linked to the Middle East war. He said the government would seek to reduce burdens on companies through marketing, financing and insurance support and policies to diversify export markets, while actively using trade networks to secure additional alternative supplies of crude oil and naphtha.
* This article has been translated by AI.
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