South Korea Export Growth Above Forecasts

2026-08-01 00:12 By Chusnul Chotimah 1 min. read

Exports soared 62.8% yoy to USD 98.89 billion in July 2026, surpassing market estimates of 59.0%, though easing from a downwardly revised 70.7% surge in June.

It was the second-highest figure on record after exports exceeded USD 100 billion for the first time in June, mainly driven by a surge in semiconductor shipments.

Shipments rose for the 14th consecutive month, driven by strong demand for memory chips, with semiconductor exports surging 178.8% to a record USD 41.01 billion, surpassing USD 40 billion for the second consecutive month.

Computer shipments also jumped 404.0%, while exports of wireless communication devices and ships rose 51.0% and 46.9%, respectively.

Export growth was also recorded in petroleum products (34.1%), biohealth (30.4%), cosmetics (37.8%), and automobiles (7%).

Shipments to China nearly doubled to USD 21.68 billion, while those to the US soared 67.8%, boosted by expanding investment in AI servers.

Exports also increased to ASEAN (73.7%) and the EU (55.7%).



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South Korea Export Growth Above Forecasts
Exports soared 62.8% yoy to USD 98.89 billion in July 2026, surpassing market estimates of 59.0%, though easing from a downwardly revised 70.7% surge in June. It was the second-highest figure on record after exports exceeded USD 100 billion for the first time in June, mainly driven by a surge in semiconductor shipments. Shipments rose for the 14th consecutive month, driven by strong demand for memory chips, with semiconductor exports surging 178.8% to a record USD 41.01 billion, surpassing USD 40 billion for the second consecutive month. Computer shipments also jumped 404.0%, while exports of wireless communication devices and ships rose 51.0% and 46.9%, respectively. Export growth was also recorded in petroleum products (34.1%), biohealth (30.4%), cosmetics (37.8%), and automobiles (7%). Shipments to China nearly doubled to USD 21.68 billion, while those to the US soared 67.8%, boosted by expanding investment in AI servers. Exports also increased to ASEAN (73.7%) and the EU (55.7%).
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South Korea’s exports surged 70.9% yoy to a record high of USD 102.25 billion in June 2026, accelerating sharply from an upwardly revised 53.4% jump in May and marking the strongest growth since June 1976. Exports exceeded USD 100 billion for the first time, mainly driven by a surge in semiconductor shipments. Shipments rose for the 13th straight month, with semiconductor exports soaring 199.5% to a record USD 44.82 billion, surpassing USD 40 billion for the first time, driven by strong demand for memory chips. Computer exports also surged more than 300%, while shipments of wireless communication devices and petroleum products jumped 51.9% and 49.8%, respectively. Meanwhile, auto exports rose 5.8% after falling in May. Shipments to China jumped 92.1%, driven by semiconductors, petrochemical products, machinery, and mobile devices, while those to the US soared 78.6%, boosted by expanding investment in AI servers. For H1 of the year, exports increased 48.4% yoy to USD 496.7 billion.
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South Korea’s exports jumped 53.2% yoy to a record high of USD 87.75 billion in May 2026, surpassing forecasts of 48.4%, accelerating from a 48% rise in April. Exports exceeded USD 80 billion for the 3rd straight month, mainly driven by a surge in semiconductor shipments. Shipments rose for a 12th straight month, with semiconductor sales soaring 169.4% to a record USD 37.16 billion, lifted by strong AI investment. Exports of computers also surged 290.7%, while shipments of wireless communication devices and displays rose 12.6% and 9.4%, respectively. By contrast, auto shipments continued to decline, falling 5.9%, partly due to shipping disruptions caused by the war in the Middle East, fewer working days, and Korean carmakers' expansion of production in the US in response to Washington's tariff policies. Shipments to China surged 80.9%, driven by semiconductors and consumer goods, while those to the US and ASEAN rose 59.1% and 58.4%, respectively.
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