SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments expanded by 68.7% year-on-year in August, reaching $98.25 billion, driven by persistent global demand for high-performance memory chips and artificial intelligence infrastructure. Data published by the Ministry of Trade, Industry and Resources confirmed that imports increased by 22.6% over the same period to $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 continues its trade growth streak for a 15th straight month.
The export of semiconductors, which remains the main force behind the country’s trade performance, climbed 209% year-on-year to a record-high $46.65 billion. The increase in chip shipments was supported by ongoing capital expenditure initiatives among leading global tech companies expanding data center infrastructure and enterprise AI hardware deployments. This performance marks the third month in a row where semiconductor export volumes exceeded the $40 billion mark. Additional information from the Yonhap News Agency revealed that exports of computer products grew 419.5% to $6.24 billion amid elevated global NAND memory prices.
Korea’s August Trade Soars 68.7% to $98.25 Billion Driven by Semiconductor Sector Expansion
Energy and chemical sectors also contributed significantly to the overall monthly growth. Petroleum product exports rose 65.3% year-on-year to $6.84 billion, while petrochemical exports increased by 12.2% to $3.86 billion. Rising global crude oil prices supported higher unit prices across refined product categories. Meanwhile, automobile exports declined 29.8% to $3.85 billion. Officials from the government explained that the drop was due to temporary seasonal shutdowns, revised summer holiday schedules at major domestic auto plants, and localized labor disputes.
On the geographic front, shipments to key trading partners experienced 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. The United States saw an 89.3% rise to $16.5 billion, bolstered by robust demand for enterprise computing hardware and advanced semiconductors. Data from the trade ministry indicates that Korean exporters maintained growth across seven of the nation’s nine primary regional markets during August.
Memory Chip Prices Play a Key Role in Supporting Overall Export Growth
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that exports outside the semiconductor industry grew by 20%, signaling a broader recovery among secondary export sectors. Besides core tech components, secondary battery exports increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion, driven by expanded supply agreements in Europe. Korea’s August exports jumped 68.7% to $98.25 billion as trade officials continue monitoring international trade policies and supply chain developments worldwide.
Adjusted for working days, daily average exports increased 72.5% year-on-year to $4.47 billion, marking four months in a row with daily values exceeding $4 billion. Analysts project that export momentum will stay strong, supported by ongoing global technology hardware demand as the year nears its end. The government’s financial institutions will release finalized quarterly trade balance summaries once September’s data collection is complete.