Exports in July set an all-time high for the month. A boom in semiconductors lifted overall shipments, pushing them above $90 billion for the second straight month.
According to the "final figures for exports and imports in July 2026" released by the Korea Customs Service on the 18th, last month's exports rose 63.0% from a year earlier to $99.0 billion. Imports increased 26.5% to $68.6 billion. The trade balance posted a $30.4 billion surplus, topping $30 billion for the second straight month and marking an 18th consecutive monthly surplus. Exports have increased for 14 consecutive months.
In particular, semiconductor exports surged 176.3% to $41.17 billion, surpassing $40 billion for a second straight month and leading overall export growth. Computer exports also jumped 333.6% to $4.995 billion, extending strong results. Petroleum products ($5.8 billion, +35.7%), ships ($3.11 billion, +47.2%), wireless communication devices ($2.05 billion, +51.2%), and steel products ($4.66 billion, +11.3%) all grew broadly.
Passenger car exports rose 8.4% from a year earlier to $5.95 billion, extending gains for a second straight month. Passenger cars saw higher shipments to the United States, the largest destination (+17.9%), as well as Canada (+18.3%), Australia (+14.3%), and the United Kingdom (+2.1%). Auto parts also returned to growth, up 1.9%. However, home appliances (-0.7%) and liquid crystal devices (-9.1%) declined.
By country, exports to China climbed 96.2% to $21.68 billion, rising for the ninth straight month. Shipments to the United States also increased 69.1% to $17.47 billion, marking an eighth straight month of gains. Vietnam (79.3%), the European Union (55.6%), Australia (50.1%), Taiwan (22.0%), and Japan (10.9%) also posted double-digit growth rates. Exports to the Middle East, which had been sluggish, also turned up, increasing 24.7% to $1.83 billion, with most major destinations showing growth.