South Korea Exceeds USD 700 Billion in Exports by Early September... Annual Exports Expected to Surpass USD 1 Trillion

Record Annual Export High Surpassed 117 Days Earlier Than Last Year
Only the US, China, and Germany Have Achieved USD 1 Trillion in Annual Exports

On the 1st, export and import cargo was piled up at Busanhang Sinseldaebu Pier in Nam-gu, Busan. Photo by Yonhap News Agency

South Korea's export volume has surpassed USD 700 billion, already exceeding last year's annual record, which was the highest of all time.

According to the Korea Customs Service, as of 1:00 pm on the 5th, this year's cumulative exports amounted to USD 709.4 billion. This milestone surpassed last year's record annual export total of USD 709.3 billion, reached 117 days earlier than before.

Despite challenging external conditions this year, including the situation in the Middle East, South Korea's major export items—led by semiconductors—have shown balanced growth, resulting in new all-time monthly export records being set each month. In June, for the first time ever, monthly exports exceeded USD 100 billion.

Jongwook Lee, Commissioner of the Korea Customs Service, reported to President Jaemyung Lee on this day, stating, "If the current robust export trend continues, South Korea is projected to reach USD 1 trillion in annual exports by early December." According to the Korea Customs Service, only the United States, China, and Germany have ever achieved annual exports of USD 1 trillion.

This content was produced with the assistance of AI translation services.