Exports Thrive Even Without Semiconductors... Non-Semiconductor Exports to Australia, Europe, and More Rise 18.6%

Industrial goods such as petroleum products and offshore plants lead the way

Consumer goods such as K-beauty and pharmaceuticals also gain popularity

KOTRA President Kang Kyungsung: "Export diversification is bearing fruit"

With South Korea's exports continuing to perform strongly this year and annual exports nearing the $1 trillion mark, non-semiconductor products, including industrial goods and consumer goods, are also growing at double-digit rates and playing a key role in diversifying exports.

Local consumers browse a Korean consumer goods exhibition and promotion at the 2026 Melbourne Hallyu Expo, hosted by the Ministry of Trade, Industry and Energy and KOTRA in Melbourne, Australia, from the 5th to the 7th (local time). KOTRA

According to the Korea Trade-Investment Promotion Agency (KOTRA) on the 15th, an analysis of exports excluding semiconductors to South Korea's top 30 export destinations from January to September this year found that non-semiconductor exports rose 18.6% from the same period last year.

By country, Australia ranked first in non-semiconductor export growth, with exports surging 71.91% from the same period last year. The Netherlands followed at 63.44%, New Zealand at 60.67%, Malaysia at 45.54%, and Singapore at 44.16%, all recording sharp growth.

The top 10 countries for non-semiconductor export growth were spread across regions: three in Europe (the Netherlands, Belgium, and Spain), two in Oceania (Australia and New Zealand), two in North America (the United States and Canada), two in Asia (Malaysia and Singapore), and one in Latin America (Mexico). This reflected a balanced diversification of export markets, rather than a concentration in any particular region.

Australia, which ranked first in non-semiconductor export growth, recorded increased exports of industrial goods and energy equipment. Australia relies heavily on imports due to insufficient refining capacity. The fallout from the war in Iran, which began early this year, pushed up supply prices, driving petroleum product exports up 104.7%. In addition, supported by the Australian government's policy of diversifying import sources and its Future Made in Australia manufacturing revival project, supplies of key industrial goods rose sharply, including industrial silver (1,604.5%), power equipment (119.2%), wire rod, steel bars, and rebar (85.0%), and aluminum (23.5%). Deliveries of offshore facilities and ships related to liquefied natural gas (LNG) also surged 485%.

Consumer goods also made notable gains. Exports of pharmaceuticals (116.4%) and cosmetics (65.0%) grew rapidly, while the Melbourne Korean Wave Expo, which KOTRA held from the 5th to the 7th as the first event of its kind in Oceania, secured 32 export contracts and business agreements (MOUs) worth a total of $18 million, demonstrating the popularity of Korean consumer goods. Nearby New Zealand also saw non-semiconductor exports rise 60.67%, driven by an expansion in industrial goods exports.

The Netherlands, a semiconductor powerhouse and the second-ranked destination at 63.44%, saw growth led by artificial intelligence (AI) infrastructure and K-beauty. Demand for global data center expansion drove exports of solid-state drives (SSDs) up 191.6%. Exports also rose across a range of products, including semiconductor manufacturing equipment (27.6%), petroleum products (240.5%), wireless communications devices (36.8%), automobiles, led by eco-friendly vehicles (21.5%), and pharmaceuticals, including biosimilars (26.7%).

K-beauty displays were installed in stores nationwide at Kruidvat, the Netherlands' largest drugstore chain, sending local cosmetics exports soaring 282.5%. Belgium, also in Europe and ranked sixth at 38.09%, likewise recorded increases across the board in ships (307.1%), pharmaceuticals (184.1%), petroleum products (64.5%), and automobiles (30.7%).

Demand for AI data centers and advanced manufacturing facilities surged in Singapore, a Southeast Asian AI industry hub ranked fifth at 44.16%, and Malaysia, ranked fourth at 45.54%. Exports of data center SSDs to the two countries jumped 881.8% and 352.7%, respectively. Exports of semiconductor manufacturing equipment (63.6% to Singapore and 188.4% to Malaysia), power equipment (39.6% and 61.1%), and measuring, control, and analytical instruments (57.8% and 65.2%) also rose. Consumer goods exports also performed well, including cosmetics (29.0%) and household goods (18.8%) to Malaysia, and agricultural, forestry, and livestock products (25.1%) to Singapore.

KOTRA President Kang Kyung-sung said, "Non-semiconductor exports are also growing at a double-digit rate. In particular, it is encouraging from the perspective of export diversification that Europe, ASEAN, Oceania, North America, and Latin America are all represented among the 10 countries with the highest growth rates among our top 30 export destinations. We will actively support the expansion of overseas business by Korean companies in line with local demand, including each country's industrialization and the popularity of Korean consumer goods."

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