Containers are stacked at Pyeongtaek Port in Gyeonggi Province on Sept. 4. (Yonhap) |
South Korea posted record monthly exports in September, fueled by robust demand for semiconductors and cars, even as fresh US tariffs cloud the outlook, government data showed Wednesday.
Outbound shipments rose 12.7 percent from a year earlier to $65.95 billion, the Trade Ministry said Wednesday. The figure surpassed the previous high of $63.8 billion set in March 2022 and marked the strongest level in more than three years.
Exports have increased for four straight months. Third-quarter exports also hit a historic high of $185 billion, underscoring momentum in global demand.
Semiconductors, Korea's top export item, led the gains. Exports jumped 22 percent to $16.61 billion, the highest monthly figure on record and the second straight record after August.
Autos followed, climbing 16.8 percent to $6.4 billion, buoyed by stronger demand for both combustion and electric vehicles.
Nine of Korea’s 15 key export categories posted gains. Shipments of ships surged 21.9 percent, extending a seven-month run of increases. Machinery rose 10.3 percent, marking the first on-year rise this year on stronger demand from emerging markets such as the Middle East.
By region, exports rose in eight of Korea’s nine major markets. The US was the only drag, with shipments slipping 1.4 percent to $10.27 billion under President Donald Trump’s sweeping tariff program, which has curbed shipments across sectors.
China, Korea's largest destination, ended a four-month decline as shipments edged up 0.5 percent to $11.68 billion. Exports to the Association of Southeast Asian Nations also jumped 17.8 percent on-year to $11 billion, the highest ever for September, while shipments to the European Union climbed to an all-time monthly high of $7.16 billion.
Imports rose 8.2 percent to $56.4 billion, leaving a trade surplus of $9.56 billion. Korea has posted a near-continuous surplus since June 2023, except for this January.
“This is an outcome Korean exporters have achieved through swift diversification of portfolios despite the unfavorable environment created by the US tariff measures,” Trade Minister Kim Jung-kwan said, asking companies to remain vigilant as global trade risks persist.