SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments increased by 68.7% year-on-year in August, totaling $98.25 billion, supported by persistent global demand for high-performance memory chips and artificial intelligence infrastructure. Data from the Ministry of Trade, Industry and Resources confirmed that imports rose 22.6% during the same period, reaching $63.51 billion, resulting in 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 continues its trade growth streak for a 15th straight month.
The export of semiconductors, which primarily drives the country’s trade performance, surged 209% year-on-year to an all-time high of $46.65 billion. This growth in chip shipments was driven by sustained capital expenditure initiatives among leading global tech companies expanding data center networks and deploying enterprise AI hardware. It marks the third consecutive month in which semiconductor export volumes surpassed the $40 billion mark. Further details from Yonhap News Agency showed that exports of computer products increased 419.5% to $6.24 billion amid elevated global NAND memory prices.
Korea’s August Trade Surges 68.7%, Reaching $98.25 Billion Due to Chip Export Boom
The energy and chemical sectors also contributed significantly to the overall monthly gains. Exports of petroleum products climbed 65.3% year-on-year to $6.84 billion, while petrochemical exports rose 12.2% to $3.86 billion. The rise in global crude oil prices supported higher unit prices across various refined exports. In contrast, automobile exports declined by 29.8%, totaling $3.85 billion. Officials attributed this decrease to temporary seasonal shutdowns, revised summer holiday schedules at major domestic automotive plants, and localized labor disputes.
Trade to key markets showed broad-based growth. Exports to China rose 119.3% year-on-year to $24.1 billion, driven by high-volume shipments of memory chips and industrial machinery. Shipments to the United States increased 89.3% to $16.5 billion, supported by strong demand for enterprise computing hardware and advanced semiconductors. Data from the trade ministry indicates that exports to seven of Korea’s nine primary regional markets expanded during August.
Memory Chip Prices Bolster Overall Export Growth
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports grew by 20% overall, signaling a broader recovery across secondary export sectors. Besides core technology components, exports of secondary batteries increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion amid expanded European supply contracts. Korea’s August exports jump 68.7% to $98.25 billion as trade authorities continue to monitor shifts in foreign trade policies and global supply chain dynamics.
Adjusted for working days, the average daily export value rose 72.5% year-on-year to $4.47 billion, marking four straight months above the $4 billion threshold. Analysts expect this momentum to persist, supported by ongoing global technology hardware demand entering the final quarter. Official government agencies will publish the finalized quarterly trade balance summaries after September’s data collection has concluded.