South Korea Export Growth Beats Estimates

South Korea’s exports surged 36.7% from a year earlier to USD 25.2 billion in the first 10 days of April, data from the Korea Customs Service showed on Monday. The latest reading marked the highest level ever recorded for the first 10 days of a month, mainly boosted by a jump in semiconductor shipments. Semiconductor exports soared 152.5% to USD 8.573 billion, accounting for 34.0% of total exports, up from 31.5% in the previous month, marking the third consecutive month in which semiconductors accounted for over 30% of total exports. At the same time, shipments of petroleum products jumped 38.6%, and ships surged 26.6%. In contrast, exports declined for both passenger cars (-6.7%) and automotive parts (-7.3%). Among trading partners, exports surged to China, South Korea’s top trading partner (63.8%), as well as the US (24.0%), Vietnam (66.6%), and Taiwan (68.3%). Meanwhile, imports rose 12.7% yoy to USD 22.1 billion during the period, resulting in a trade surplus of USD 3.1 billion.

South Korea’s exports surged 48.3% year-on-year in March 2026 to a new record high of USD 86.13 billion, surpassing USD 80 billion for the first time, mainly boosted by semiconductors. The latest reading was above forecasts of 44.9%, accelerating sharply from February’s downwardly revised 28.7% rise and marking the strongest growth since August 1988. Shipments rose for a tenth straight month, with semiconductor sales surging 151.4% to a fresh high of USD 32.83 billion, topping USD 20 billion for a fourth consecutive month, fueled by strong AI investment and rising memory chip prices. Exports also grew for computers (189%), driven by expanded demand for enterprise SSDs, and for petroleum products (54.9%), boosted by rising oil prices. Shipments to the U.S. (47.1%) and China (64.2%) grew robustly, driven by semiconductors, while those to the EU rose by 19.3%. By contrast, shipments to the Middle East plunged 49.1% due to logistics disruptions.

South Korea’s exports jumped 29.0% yoy in February 2026 to a record USD 67.45 billion for the month, beating market forecasts of 24% but easing from January’s 33.8% surge due to three fewer working days amid the Lunar New Year break, preliminary data showed. Still, shipments rose for a ninth straight month. Semiconductor sales soared 160.9% to a fresh high of USD 25.16 billion, topping USD 20 billion for a third month in a row, fueled by strong AI investment and rising memory chip prices. Exports also grew for computers (222%), ships (41%), and wireless communications (13%); but fell for autos (-20.8%), petrochemicals (-15.4%), and steel (-7.8%). Shipments expanded to the U.S. (30%), China (34%), the ASEAN countries (30.4%), and the EU (10.3%). Meanwhile, Seoul has launched a strategy to lift exports to a new record USD 740 billion this year, from a top USD 709.7 billion in 2025, by diversifying products and markets and strengthening financial support.