South Korea's Exports Hit 'Record High' Again This Month; Semiconductor Exports Up 170.9% from Oct. 1-10

Korea Customs Service: Oct. 1-10 Trade Figures
Total and semiconductor exports both hit 'record highs'
Trade surplus reaches $3.8 billion

Strong semiconductor exports continued in October, pushing both total exports and semiconductor exports to record highs.

According to import and export figures for October 1-10 released by the Korea Customs Service on the 12th, exports totaled $26.1 billion, up 102.0% from the same period a year earlier. The figure surpassed the previous record of $15.3 billion set in October 2024.

Containers are stacked at Pyeongtaek Port in Gyeonggi Province. Photo by Kang Jinhyeong.

There were 5.5 working days from October 1-10, two more than the 3.5 days in the same period a year earlier. Adjusted for the number of working days, average daily exports rose 28.5% to $4.75 billion.

Semiconductors, which hit an all-time high, led the increase in exports. Semiconductor exports totaled $12.198 billion in the first 10 days of this month, up 170.9% from the same period a year earlier. Exports increased in nine of the 10 major product categories, with ships the only category to decline (-13.4%). Exports of petroleum products (45.6%), passenger cars (82.7%), and wireless communication devices (62.6%) also rose. Semiconductors accounted for 46.7% of total exports, an increase of 11.9 percentage points. By destination, exports to all 10 major markets increased, including China (167.3%), the United States (159.9%), Vietnam (89.7%), Taiwan (2.6%), and the European Union (EU, 127.3%).

Imports totaled $22.3 billion through October 10, up 65.5% from the same period last year. Imports of crude oil (56.2%), semiconductors (66.7%), and gas (125.5%) increased, while those of petroleum products (-10.9%) declined. The value of energy imports (crude oil, gas, and coal) also rose 64.8%. Imports from all 10 major trading partners increased, including China (84.4%), the United States (57.6%), the EU (87.7%), Japan (80.1%), and Taiwan (82.5%).

The trade balance recorded a surplus of $3.8 billion from October 1-10. As a result, the cumulative surplus from January 1 through October 10 this year reached $256.219 billion.

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