South Korea Exports Rise More than Expected

South Korea’s exports soared 48% yoy to USD 85.89 billion in April 2026, surpassing forecasts of 45.3%, though slightly easing from an upwardly revised 49.2% jump in March. Exports exceeded USD 80 billion for the 2d straight month, mainly driven by a surge in semiconductor shipments. Shipments rose for an 11th straight month, with semiconductor sales soaring 173.5% to USD 31.9 billion, the highest-ever figure for any April, fueled by strong AI investment and rising memory chip prices. Exports also jumped for petroleum products (39.9%), boosted by rising oil prices due to the ongoing Middle East conflict. By contrast, auto shipments fell 5.5%, partly due to shipping disruptions amid the Iran war and Korean carmakers’ expansion of production in the US in response to Washington’s tariff policies. Shipments to China (62.5%) and the US (54%) jumped, driven by semiconductors, while those to ASEAN surged by 64%. Exports to the Middle East slumped 25.1% due to the ongoing regional crisis.

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.