Exports in May totaled $87.75 billion, setting a new monthly all-time high. For the first time ever, monthly exports topped $80 billion for three consecutive months. The boom in semiconductors, driven by expanded investment in artificial intelligence (AI), fueled the gains.
The Ministry of Trade, Industry and Resources and the Korea Customs Service said on the 1st in the "May 2026 import and export trends" that last month's exports rose 53.2% from a year earlier. Monthly exports exceeded $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 on record.
The semiconductor boom led overall export performance. Semiconductor exports in May jumped 169.4% from a year earlier to $37.16 billion. It was the largest monthly figure on record. Since March, they have exceeded $30 billion for three consecutive months.
Elsewhere, computer exports surged 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 performed well.
In 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 difficulties due to the Middle East war, and increased local production in response to the impact of U.S. tariff measures.
By region, exports to China, the United States, and ASEAN showed marked growth. Exports to China rose 80.9% to $18.9 billion on the back of strong semiconductors and consumer goods, marking seven straight months of increases. 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 prices stemming 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 reached $101.91 billion, surpassing the previous annual record of $95.2 billion set in 2017.
Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources said, "Although imports increased due to rising oil prices from the Middle East war, exports recorded a higher growth rate as IT items centered on semiconductors and promising consumer goods such as cosmetics and agri-fishery products performed well."