South Korean exports rose 83.5% year on year last September to a record 120.9 billion dollars, driven by a sharp increase in semiconductor shipments, according to data from the Ministry of Trade, Industry and Energy.
Imports increased 26% year on year during the month to 71.09 billion dollars, while the trade surplus reached an unprecedented 49.85 billion dollars.
Semiconductor exports exceed 60 billion dollars
Semiconductor exports exceeded 60 billion dollars for the first time ever, jumping 263% to 60.3 billion dollars, supported by higher shipments and rising product prices amid growing demand for memory chips.
Exports of petroleum products rose 72% to 7.22 billion dollars, while petrochemical exports increased 5.1% to 3.95 billion dollars. Cosmetics exports climbed 31.4% to 1.51 billion dollars, driven by stronger demand in China, the United States and the European Union.
By contrast, automobile exports fell 5.5% to 6.05 billion dollars, affected by fewer working days due to the Chuseok holiday and a decline in used-car exports.
Exports to China and the United States surge
South Korean exports to China rose 123% to 26 billion dollars, driven by increased shipments of semiconductors and wireless communications equipment. Exports to China exceeded 20 billion dollars for the fourth consecutive month.
Exports to the United States also surged 137% to 24.33 billion dollars, supported by strong demand for semiconductor chips, petrochemical products and general machinery.
