SEOUL, South Korea / RankWire.AI / – In the initial 20 days of October, South Korea’s total exports surged to $61.6 billion, more than doubling compared to the same period last year, driven primarily by record semiconductor shipments. The Korea Customs Service announced these figures on Wednesday. On average, daily exports, based on working days, increased to $4.74 billion, marking the highest level ever recorded for the first 20 days of any month. Meanwhile, imports rose 42.8% to $47.1 billion, resulting in a trade surplus of $14.5 billion.
Semiconductor exports were the main driver behind this growth. Shipments of chips jumped 222.5% to $27.5 billion during this period, suggesting export volumes of approximately $8.5 billion a year earlier. Semiconductors now comprise 44.7% of total exports, making them the largest single product category. This upward trend continues a strong performance for Korean chip manufacturers, including Samsung, which has been expanding its memory offerings for AI applications.
Other key industries also contributed significantly to the overall growth. Exports of petroleum products increased by 68.3% from a year ago. Vehicle exports grew by 40.9%, and steel product shipments went up by 42.6%. The widespread expansion across these vital sectors, combined with the semiconductor boom, helped raise the average daily export value to a record high for this period.
Exports to China and the US More Than Double
During the first 20 days of October, exports to China increased by 154.4% year-on-year. Similarly, shipments to the United States rose 154.9%, slightly surpassing the growth rate to China. Exports to Vietnam and the European Union also saw gains over the same period, according to customs data. These figures indicate a rising demand across South Korea’s leading export markets at the same time.
While exports expanded rapidly, imports grew at a slower rate, increasing 42.8% to $47.1 billion. This resulted in a trade surplus of $14.5 billion for the first 20 days of October. The surplus was widened by higher exports of high-value items like chips. Overall, exports outpaced imports by about 31%, signaling a strong start to South Korea’s final quarter of the year.
Exports for the Year Total $876.3 Billion
From January 1 through October 20, South Korea’s cumulative exports reached $876.3 billion. The country’s total trade surplus for this period stands at $266.9 billion. These latest figures build on earlier robust performance. In August, South Korea’s exports increased by 68.7% to $98.25 billion, supported by strong chip sales.
The preliminary data covering the first 20 days of October offer an early outlook on the full-month trade results. The complete figures for October are typically announced at the beginning of the following month. With semiconductors accounting for 44.7% of total exports, they will remain a key focus. Additionally, growth in petroleum, automotive, and steel exports signals a broader strength across South Korea’s export sector.