Cumulative exports for Jan.–Aug. this year were tallied at $453.8 billion, up 0.9% from the same period a year earlier. Semiconductors, automobiles, biohealth, and ships drove the increase, while petroleum products, petrochemicals, and steel remained sluggish.
The Ministry of Trade, Industry and Energy said on the 22nd that it held a meeting to review export trends, presided over by Deputy Minister Park Jeong-seong, to examine export trends and risks by major item.
According to the ministry, exports for Jan.–Aug. this year came to $453.8 billion, up 0.9% from a year earlier. By monthly flow, the monthly average in the first quarter recovered from $53.2 billion (-2.3%) to $58.4 billion (+2.2%) in the second quarter, and recorded $60.7 billion (+5.7%) in July and $58.4 billion (+1.2%) in August, continuing a run of positive growth.
By item, cumulative semiconductor exports jumped 16% to $103.1 billion, marking an all-time high. This far exceeds the previous peak of $91.0 billion in 2022 and $88.8 billion last year. Increased demand for memory products and a rebound in prices, driven by expanded investment in artificial intelligence (AI) servers, supported the strength.
Automobiles turned positive at $47.7 billion, up 1%. While automobile exports to the United States fell 15% to $20.3 billion due to tariff effects, exports to other regions rose sharply, improving overall performance. Automobile exports came to $6.3 billion (+21%) to the European Union (EU) and $4.2 billion (+48%) to the Commonwealth of Independent States (CIS).
Biohealth ($10.5 billion, +6%), computers ($8.0 billion, +2.2%), wireless communication devices ($10.3 billion, +1%), and ships ($19.4 billion, +24%) also showed gains.
In contrast, petroleum products and petrochemicals fell 15% and 12% to $30.0 billion and $29.0 billion, respectively, due to declining oil prices and slowing global demand. Steel, which is subject to U.S. item tariffs, also fell 7% to $20.7 billion.
Deputy Minister Park Jeong-seong said, "Even amid uncertain export conditions such as U.S. tariffs, the fact that exports for Jan.–Aug. posted a gain was backed by our corporations' fundamental product competitiveness and efforts to diversify markets," adding, "Exports in September are expected to continue the positive run for a fourth straight month, as key items such as semiconductors, automobiles, and biohealth remain strong."