South Korea's exports from August 1 to 10 reached USD 21.3 billion, setting an all-time high for the month of August. Semiconductor exports totaled USD 9.952 billion, accounting for 46.8% of total exports and surging 155.4% year-on-year, driving the overall boom. The top three export destinations—China, Vietnam, and the United States—accounted for 52.5% of total exports.

According to preliminary customs data released by the Korea Customs Service on August 11, exports from August 1 to 10 stood at USD 21.286 billion, up 45.3% from the same period last year. Imports reached USD 19.488 billion, up 23.1%, resulting in a trade surplus of USD 1.798 billion. The cumulative annual trade surplus reached USD 170 billion. Average daily exports amounted to USD 3.04 billion, representing a 45.3% increase with the same number of working days (7 days) as the previous year.

On a monthly basis, exports have maintained year-on-year growth for 14 consecutive months from June of last year through July of this year. Although results for August 11–31 remain, given the trend observed during the first ten days, there is a possibility that the positive streak will extend to 15 consecutive months.

By Item: Semiconductors Show Overwhelming Strength... Passenger Cars and Ships Remain Sluggish

Semiconductors ranked an overwhelming first in total exports at USD 9.952 billion. Petroleum products (USD 1.997 billion, up 65.3%), computer peripheral devices (USD 587 million, up 139.5%), and steel products (up 4.3%) also performed well. Meanwhile, passenger cars (-80.9%), ships (-58.2%), auto parts (-36.3%), wireless communication devices (-9.1%), home appliances (-9.0%), and precision instruments (-6.9%) turned to a decline.

By Country: Exports to China Surge 134.8%... U.S. Sees Slight Decline of 0.2%

By country, exports to China surged 134.8% to USD 6.746 billion. Vietnam (USD 2.39 billion, up 45.4%), along with Hong Kong (up 259.4%), the European Union (up 57.2%), Japan (up 20.3%), Malaysia (up 127.3%), and India (up 28.9%) also recorded increases. On the other hand, exports to the United States (USD 2.045 billion) decreased by 0.2%, while Taiwan (-4.4%) and Singapore (-70.7%) also saw declines.

Imports: Semiconductors and Equipment Increase, Energy Decreases

In terms of imports, semiconductors rose 90.8% to USD 3.962 billion. Semiconductor manufacturing equipment (USD 831 million, up 77.3%) and machinery (up 25.4%) also showed upward trends. Conversely, crude oil (-16.9%), gas (-10.0%), and overall energy including coal (-13.8%) declined. By country, imports from China increased 48.3% to USD 4.791 billion, while imports from the United States (USD 2.342 billion, up 38.2%), Japan (USD 1.832 billion, up 47.3%), and the EU (USD 1.683 billion, up 15.9%) also rose. Imports from Saudi Arabia fell by 37.7%.