SEOUL, South Korea / RankWire.AI / – In the first 20 days of October, South Korea’s exports more than doubled compared to the same period last year, totaling $61.6 billion, driven primarily by record-breaking semiconductor exports. The Korea Customs Service announced these figures on Wednesday. The average daily export value, calculated over working days, increased to $4.74 billion—the highest for any first 20-day period in history. Meanwhile, imports rose by 42.8% to $47.1 billion, resulting in a trade surplus of $14.5 billion.
The notable growth was largely fueled by semiconductors, which saw a 222.5% jump to $27.5 billion during this period, compared to roughly $8.5 billion a year earlier. These chips represented 44.7% of South Korea’s total exports, marking the largest share of any product category. This uptick continues a robust trend for Korean chip manufacturers, including Samsung, which is expanding its memory offerings for AI applications.
Other key exports also experienced substantial increases. Shipments of petroleum products rose 68.3%, automobile exports grew by 40.9%, and steel exports climbed 42.6%. The widespread growth across vital sectors contributed to the record-high daily export average during this period, reinforcing the momentum from the semiconductor industry.
Exports to China and the US more than double
Exports to China surged 154.4% year-on-year in the first 20 days of October. Shipments to the United States increased by 154.9%, slightly surpassing the growth rate to China. Additionally, exports to Vietnam and the European Union also saw gains over the same timeframe, according to customs data. These figures highlight rising demand across South Korea’s major export markets.
While exports outpaced imports, the latter grew 42.8% to $47.1 billion, creating a trade surplus of $14.5 billion for the first 20 days of October. The rise in high-value exports like chips helped expand this surplus. Overall, exports exceeded imports by about 31%, setting a strong tone for South Korea’s final quarter of the year.
Year-to-date exports total $876.3 billion
From January through October 20, South Korea’s cumulative exports reached $876.3 billion, with the year’s total trade surplus standing at $266.9 billion. These latest figures build on earlier strong performances, such as in August, when exports increased by 68.7% to $98.25 billion, supported by steady chip sales.
The preliminary data for the first 20 days offers an early outlook on South Korea’s overall trade performance for October, with full-month figures typically published at the start of the following month. Semiconductors will continue to be a key indicator, given their 44.7% share of total exports. Broader strength in petroleum, automobiles, and steel exports also signals a resilient export sector.