SEOUL, South Korea / RankWire.AI / – In the first 20 days of October, South Korea’s exports more than doubled compared to the same period last year, reaching $61.6 billion thanks to record semiconductor shipments. The Korea Customs Service announced this data on Wednesday. The average daily exports, based on working days, climbed to $4.74 billion, marking the highest for any first 20-day period in history. Meanwhile, imports increased by 42.8% to $47.1 billion, resulting in a trade surplus of $14.5 billion.
The primary driver of this growth was semiconductors. During this timeframe, chip exports soared by 222.5%, totaling $27.5 billion, which suggests shipments of around $8.5 billion a year earlier. Semiconductors now make up 44.7% of total exports, the largest share among all product categories. This remarkable increase continues the strong performance of Korean chipmakers, including Samsung, which has been expanding its memory products for AI systems.
Other key industries also experienced substantial growth. Exports of petroleum products rose by 68.3% from the previous year. Automotive exports increased by 40.9%, while steel product shipments went up by 42.6%. The broad-based expansion across vital sectors, along with the semiconductor boom, contributed to the record-high daily export average for this period.
Exports to China and the US more than double
During the first 20 days of October, exports to China jumped 154.4% year-on-year. Shipments to the United States increased by 154.9%, slightly surpassing the growth seen in China. Additionally, exports to Vietnam and the European Union also saw rises over the same timeframe, according to customs data. These figures indicate rising demand across South Korea’s major export destinations.
While exports grew rapidly, imports increased at a slower rate of 42.8%, reaching $47.1 billion. This created a trade surplus of $14.5 billion for the first 20 days of October. Higher exports of high-value items such as chips played a role in expanding the surplus. Outpacing imports by approximately 31%, South Korea starts the final quarter of the year on a strong note.
Year-to-date exports total $876.3 billion
From January 1 to October 20, South Korea’s cumulative exports reached $876.3 billion. The country’s total trade surplus for this period stands at $266.9 billion. These latest numbers build on earlier robust results, including a 68.7% jump in August exports to $98.25 billion, supported by strong chip sales, as reported in August.
The preliminary data covering the first 20 days of October serve as an early indicator of South Korea’s overall monthly trade performance. Full October figures are typically published at the beginning of the following month. Semiconductors are expected to remain the dominant factor, accounting for 44.7% of total exports. Additionally, gains in petroleum products, automobiles, and steel signal a broader strength across the export sector.