South Korea Exports Hit Record, Exceed $80 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 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. (64%) and China (47%) grew robustly, driven by semiconductors. By contrast, shipments to the Middle East plunged 49% 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.

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.