SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments surged 68.7% year-on-year in August to reach $98.25 billion, driven by sustained global demand for high-performance memory chips and artificial intelligence infrastructure. Data released by the Ministry of Trade, Industry and Resources confirmed that imports rose 22.6% over the same period to $63.51 billion, yielding a net monthly trade surplus of $34.75 billion. Korea’s August exports jump 68.7% to $98.25 billion as Asia’s fourth-largest economy extends its trade expansion streak for a 15th consecutive month.
The primary contributor to the country’s trade growth, semiconductor exports, soared 209% year-on-year to a record-high of $46.65 billion. The surge in chip shipments was driven by continued capital spending by major global technology companies expanding data center infrastructure and enterprise AI hardware. This achievement marks the third straight month where semiconductor exports surpassed the $40 billion mark. The Yonhap News Agency further reported that exports of computer products increased by 419.5% to $6.24 billion amid elevated global NAND memory prices.
Korea’s August Exports Reach $98.25 Billion Amid Semiconductor Surge
Energy and chemical sectors also contributed significantly to the overall monthly gains. Petroleum product exports rose 65.3% year-on-year to $6.84 billion, while petrochemical exports grew 12.2% to $3.86 billion. Supportive global crude oil prices helped boost unit prices across these refined product categories. In contrast, automobile exports declined by 29.8%, totaling $3.85 billion. Officials cited temporary seasonal shutdowns, revised summer holiday schedules at major domestic auto plants, and local labor disputes as reasons for the decline in vehicle shipments.
Looking at regional trade patterns, exports to key trading partners showed widespread growth. China saw a 119.3% increase year-on-year to $24.1 billion, driven by high-volume shipments of memory chips and industrial machinery. Exports to the United States rose 89.3%, reaching $16.5 billion, supported by strong demand for enterprise computing hardware and advanced semiconductors. The trade ministry’s data indicates that during August, Korea’s exports increased in seven out of the nine primary regional markets.
Rising Memory Chip Prices Bolster Overall Export Performance
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that exports outside of semiconductors grew by 20%, reflecting a broader recovery across secondary industries. Alongside core tech components, secondary battery exports increased 24% to $600 million, while biohealth shipments reached a record $1.41 billion, up 22.3%, supported by expanded supply contracts across Europe. Korea’s August export figures climbed 68.7% to $98.25 billion as trade officials continue to monitor shifts in international trade policies and global supply chain dynamics.
Adjusted for working days, daily average exports increased 72.5% year-on-year to $4.47 billion, marking four months in a row above the $4 billion daily threshold. Experts in macroeconomics anticipate the export momentum to stay robust, bolstered by ongoing global technology hardware demand as the year enters its final quarter. Following the end of September data collection, government financial institutions will release detailed quarterly trade balance summaries.