South Korea Export Growth Beats Estimates

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.

South Korea’s exports surged 33.9% yoy to USD 65.85 billion in January 2026, following a downwardly revised 13.3% increase in December 2025. It was the strongest export growth since June 2021, mainly driven by robust demand for semiconductors, the country’s top export item, which jumped 102.7% on strong AI-related demand. The increase was also supported by a higher number of working days compared with January last year. It also marked the highest January figure on record and the first time January exports exceeded USD 60 billion. Outbound shipments also grew for cars (21.7%), wireless communication devices (66.9%), computers (89.2%), and petroleum products (8.5%). Among trading partners, exports to China jumped 46.7%, while total exports to the US advanced 29.5%. However, car and machinery exports to the US fell 13% and 34%, due to the impact of tariff effects. Last year, exports totaled a record USD 709.7 billion in 2025, surpassing USD 700 billion for the first time.

South Korea’s exports grew 14.9% year-on-year to USD 36.36 billion in the first 20 days of January 2026, data from the Korea Customs Service showed on Wednesday. The growth was driven by robust demand for semiconductors, the country’s top export item, which surged 70.2% year-on-year to USD 10.73 billion. Chip exports accounted for 29.5% of total exports during the period, up 9.6 percentage points from the same period last year. Export growth was also recorded in petroleum products, which rose 17.6%, while steel exports climbed 1.2%. Among trading partners, exports to China, South Korea’s top trading partner, surged 30.2% to USD 8.45 billion. Meanwhile, exports to the US increased 19.3% to USD 6.66 billion, despite the US imposing new tariffs. In December 2025, outbound shipments rose 13.4% yoy to USD 69.58 billion, marking the fastest increase since July 2024. Exports totaled a record USD 709.7 billion in 2025, surpassing USD 700 billion for the first time.