Record Export Surge
South Korea's exports recorded a record 93.7% year-on-year increase in October 2026, reaching $115.3 billion. This rise was primarily driven by a sharp increase in semiconductor shipments, according to Yonhap News Agency citing the Ministry of Trade, Industry and Energy.
The Ministry stated in a press release that strong global demand for semiconductors, alongside continued investments by major tech companies in AI infrastructure, contributed to boosting the country's total exports during the period.
Import Details and Trade Surplus
Conversely, imports rose by 36% year-on-year to reach $72.78 billion. This relatively moderate increase in imports compared to exports enabled South Korea to achieve a trade surplus of $42.5 billion during the same month.
At the product level, semiconductor exports, a cornerstone of the Korean economy, jumped 259% compared to last year, reaching $56.4 billion. Exports of petroleum products also rose by 80% to $6.92 billion, while petrochemical product exports increased by 27.5% to $4 billion.
Growth in Other Sectors
Cosmetics exports recorded a 57.5% growth to reach $1.44 billion, driven by increased demand in China, the United States, and the European Union. Similarly, car exports rose by 18.1% to $6.55 billion, supported by growing external demand for gasoline-powered hybrid vehicles.
By destination, exports to China surged 133.6% year-on-year to $26.98 billion, thanks to strong shipments of semiconductors and wireless communication equipment, surpassing the $20 billion mark for the fifth consecutive month. Exports to the United States also rose by 185.8% to $24.9 billion, driven by strong demand for semiconductors, computers, and electrical equipment used in AI infrastructure.
Source: Syrian Arab News Agency (SANA)
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