SEOUL / RankWire.AI / – The Republic of Korea’s outbound shipments surged 68.7% year-on-year in August to reach $98.25 billion, driven by sustained global demand for high-performance memory chips and artificial intelligence infrastructure. Data released by the Ministry of Trade, Industry and Resources confirmed that imports rose 22.6% over the same period to $63.51 billion, yielding a net monthly trade surplus of $34.75 billion. Korea’s August exports jump 68.7% to $98.25 billion as Asia’s fourth-largest economy extends its trade expansion streak for a 15th consecutive month.
Exports of semiconductors, which largely drive the nation’s trade figures, skyrocketed 209% year-on-year to an all-time high of $46.65 billion. The increase was fueled by ongoing capital investment from leading global tech companies expanding data center infrastructure and deploying enterprise AI hardware. This marks the third month in a row that semiconductor exports have exceeded $40 billion. Additional reports from the Yonhap News Agency revealed that exports of computer products grew 419.5% to $6.24 billion amid rising global NAND memory prices.
Korea’s August Export Growth of 68.7% Reaches $98.25 Billion, Driven by Semiconductor Sales
Energy and chemical sectors also contributed significantly to the overall increase. Petroleum product exports rose 65.3% year-on-year to $6.84 billion, while petrochemical exports increased 12.2% to $3.86 billion. Elevated global crude oil prices supported higher unit prices across refined export categories. In contrast, automobile exports fell 29.8% to $3.85 billion. Officials attributed this decline to temporary seasonal shutdowns, changes in summer holiday schedules at major domestic automakers, and localized labor disputes.
On the geographical front, shipments to key trading partners showed broad-based growth. Exports to China jumped 119.3% year-on-year to $24.1 billion, driven by large-volume exports of memory chips and industrial machinery. Deliveries to the United States increased 89.3% to $16.5 billion, supported by robust demand for enterprise computing hardware and advanced semiconductors. According to trade ministry data, Korean exporters maintained growth across seven of the nation’s nine main regional markets during August.
Rising Memory Chip Prices Bolster Overall Export Growth
Kim Jung-kwan, Minister of Trade, Industry and Energy, stated in an official release that non-semiconductor exports grew by 20%, indicating a broader recovery in secondary export sectors. Besides core technological components, exports of secondary batteries increased 24% to $600 million, while biohealth shipments rose 22.3% to a record $1.41 billion amid expanded European supply contracts. As Korea’s August exports surged 68.7% to $98.25 billion, officials continue to monitor changes in foreign trade policies and global supply chain conditions closely.
Adjusted for working days, daily average export values rose 72.5% year-on-year to $4.47 billion, marking four straight months above the $4 billion mark. Industry analysts anticipate that this export momentum will persist, buoyed by ongoing global technology hardware demand in the final quarter of the year. The government’s financial agencies are expected to publish detailed quarterly trade balance reports once September data is finalized.