Exports in May were tallied at $87.75 billion, renewing the record for the largest monthly total. For the first time ever, monthly exports topped $80 billion for three straight months. The boom in semiconductors continued on expanded investment in artificial intelligence (AI).
The Ministry of Trade, Industry and Resources and the Korea Customs Service said on the 1st in the "May 2026 trade trends" that last month's exports rose 53.2% from a year earlier. Monthly exports topped $80 billion for three straight months—March ($87.2 billion), April ($85.9 billion), and May ($87.7 billion).
Average daily exports, adjusted for working days, rose 60.7% year over year to $4.28 billion. It surpassed $4 billion for the first time ever.
The semiconductor boom drove overall export performance. Semiconductor exports in May rose 169.4% from a year earlier to $37.16 billion. It was the largest monthly result on record. Since March, they have topped $30 billion for three consecutive months.
Elsewhere, computer exports jumped 290.7% to $4.18 billion, while displays and wireless communication devices rose 9.4% and 12.6% to $1.47 billion and $1.46 billion, respectively. Exports of IT (information and communications technology) items were strong.
By contrast, automobile exports fell 5.9% to $5.83 billion. The decline is attributed to fewer working days, parts supply disruptions from domestic fires, logistics challenges stemming from the Middle East war, and increased local production due to the impact of U.S. tariffs.
By region, exports to China, the United States, and ASEAN stood out. Exports to China rose 80.9% to $18.9 billion on strong semiconductors and consumer goods, marking seven straight months of growth. Exports to the United States and ASEAN climbed 59.1% and 58.4% to $15.97 billion and $15.85 billion, respectively.
Imports rose 20.8% from a year earlier to $60.8 billion. Higher crude oil imports due to elevated oil prices from the Middle East war were a factor. The trade balance, exports minus imports, posted a surplus of $26.95 billion.
The cumulative trade surplus for January–May was $101.91 billion. It surpassed the previous annual record ($95.2 billion in 2017).
Regarding the annual export outlook, Kang Gam-chan, director general for trade and investment at the Ministry of Trade and Industry (MOTI), said, "Given the current trend, we expect a figure close to the over $920 billion forecast by the Korea Institute for Industrial Economics & Trade (KIET) and the $950 billion suggested by the Bank of Korea," adding, "If we look optimistically, even the $1 trillion some in securities mention is not an entirely impossible figure."