Exports last month neared $100 billion, extending their strong run. Semiconductors, the mainstay item, led exports with results topping $40 billion for the second straight month.
On the 1st, the Ministry of Trade, Industry and Resources said July exports rose 62.8% year over year to $98.99 billion.
It was the second-highest monthly result on record, following June, when monthly exports surpassed $100 billion for the first time at $102.25 billion.
Semiconductor exports, the mainstay item, jumped 179% to $41.01 billion, exceeding $40 billion for two straight months.
All IT categories also posted export gains. Computer exports soared 404.0% to $4.79 billion. As big tech corporations maintained expanded investment in AI infrastructure, demand for enterprise solid-state drives (SSD) continued to rise.
Wireless communication device exports reached $1.81 billion on the back of strong sales of premium products such as the Galaxy S26, while displays came in at $1.61 billion as they monopolized shipments of new products including the iPhone Ultra (foldable).
Of the 20 key export items, exports of 19 items excluding home appliances increased in July. Exports of items other than semiconductors rose 26%.
Exports of steel ($2.36 billion), automobiles ($6.24 billion), and ships ($3.29 billion) increased. Despite lower export volumes, petroleum products ($5.68 billion) and petrochemicals ($4.18 billion) saw export values rise on higher unit prices.
Electronics ($1.79 billion), biohealth ($1.57 billion), cosmetics ($1.35 billion), and agricultural and seafood products ($1.09 billion) each set new record highs for July export values.
With semiconductors and other items performing well, exports to China rose 96.2% to $21.68 billion, exceeding $20 billion for the second consecutive month. Exports to the United States increased 69% to $17.43 billion.
Exports to ASEAN climbed 73.7% to $18.8 billion, and exports to the European Union (EU) rose 55.7% to $9.38 billion, both setting all-time records.
Exports to the Middle East, which had been declining due to the impact of the Middle East war, returned to growth for the first time since January at $1.83 billion.
Imports in July rose 26.5% to $68.56 billion, with energy imports ($14.48 billion) up 50.1%.
The trade balance posted a surplus of $30.32 billion.
Minister Kim Jung-kwan of the Ministry of Trade and Industry (MOTI) said, "Even though it was the start of the half, July exports posted a high result in the $90 billion range, because exports have diversified based on the competitiveness of our products," and added, "New tariff measures under Section 301 of U.S. trade law, stronger protectionism in major countries, and uncertainty in the Middle East situation are expected to make export conditions challenging going forward."
She added, "We will closely review conditions by major items and markets and mobilize all available policy tools so that our corporations can respond in a timely manner to changes in the trade environment."