South Korea’s exports rose by 23.5% in the first 20 days of this month compared to the same period last year, reaching $43.5 billion. The surge was primarily driven by the strong demand for semiconductors, with semiconductor exports more than doubling amid increased interest in artificial intelligence (AI). Imports also saw growth, increasing by 11.7% to $38.6 billion during this period, resulting in a trade surplus of $4.9 billion.
The daily average export volume spiked by 47.3% year-on-year, attributed to a decrease in the number of working days by 2.5 days to 13 days. Notably, semiconductor exports surged by 134.1% to $15.1 billion, constituting 34.7% of the total exports. Moreover, exports of petroleum products increased by 10.5% to $2.9 billion, while vessel shipments soared by 22.7% to $1.3 billion.
On the other hand, automobile exports experienced a decline of 26.6% year-on-year to $2.6 billion. In terms of destinations, exports to China, South Korea’s major trading partner, grew by 30.8% to $8.7 billion. Shipments to the United States also saw a significant increase of 21.9% to $8 billion, despite the tariff measures imposed by the U.S. President Donald Trump’s administration. January also witnessed a substantial growth in exports, up by 33.9% year-on-year to $65.85 billion, driven by the robust demand for semiconductors.
