South Korea's exports in early September surged over 82% compared to the same period last year, setting a new record for this timeframe. The increase was driven by a record high in semiconductor exports, along with gains in petroleum products and passenger cars.
The Korea Customs Service reported on September 11 that the export value from September 1 to 10 reached $34.973 billion, marking an 82.6% increase year-on-year. This figure represents the highest amount recorded for this period. Cumulative exports for the year have also risen by 54.1% compared to the same period last year, totaling $728.561 billion.
Considering the number of working days, the average daily export value stands at $4.11 billion, reflecting an 82.6% increase from the previous year, as the number of working days remained the same.
South Korea's export performance has already surpassed last year's total. As of September 5, the cumulative export value reached $709.4 billion, exceeding last year's annual total of $709.3 billion. This indicates that the country has surpassed last year's export figures 117 days earlier than in 2025.
Given this trend, the likelihood of achieving $1 trillion in exports this year appears high. The Ministry of Trade, Industry and Energy anticipates that if the current robust export growth continues, the country will reach the $1 trillion mark. Only three countries— the United States, China, and Germany—have previously achieved this milestone.
Semiconductors are leading the export charge. In early September, semiconductor exports soared by 207.1% to $16.483 billion, also a record for this period. The share of semiconductor exports in total exports increased by 23.9 percentage points to 47.1% compared to last year.
High oil prices have contributed to a significant rise in petroleum product exports, which increased by 57.0%. Exports of passenger cars rose by 10.0%, while ship exports surged by 66.8%, and steel product exports grew by 10.3%. However, precision instrument exports fell by 4.8% to $19.9 million.
Exports to major trading partners showed strong growth, with China (up 103.0%), the United States (up 137.5%), Taiwan (up 176.0%), Vietnam (up 42.2%), and the European Union (up 38.9%) all experiencing increases. The top three countries—China, the United States, and Vietnam—accounted for 51.9% of total exports.
Imports also rose, increasing by 20.7% to $24.66 billion. The cumulative annual import value has grown by 18.9% to $515.57 billion. Semiconductor imports surged by 91.5% to $4.947 billion, while crude oil (up 3.5%) and semiconductor manufacturing equipment (up 44.8%) also saw significant increases. In contrast, machinery imports decreased by 2.7%.
Energy imports, including crude oil, gas, and coal, rose by 1.5%. Crude oil and coal imports increased by 3.5% and 15.1%, respectively, reaching $2.473 billion and $459 million. However, gas imports fell by 9.7% to $807 million.
By country, imports from China (up 50.0%), the United States (up 17.3%), the EU (up 6.5%), and Japan (up 39.8%) increased. However, imports from Australia (down 0.7%) and Saudi Arabia (down 11.7%) declined.
With exports exceeding imports, the trade balance recorded a surplus of $10.367 billion, bringing the cumulative annual trade surplus to $212.99 billion.
* This article has been translated by AI.
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