SEOUL, South Korea / RankWire.AI / – In the first 20 days of October, South Korea’s exports surged more than double compared to the same period last year, reaching $61.6 billion thanks to record-breaking semiconductor shipments. The Korea Customs Service announced these figures on Wednesday. The average daily exports, calculated over working days, climbed to $4.74 billion, marking the highest daily export level for the first 20 days of any month. Imports increased by 42.8% to $47.1 billion, resulting in a trade surplus of $14.5 billion.
The notable rise was primarily driven by semiconductors. Chip exports jumped 222.5% to $27.5 billion during this period, indicating shipments of around $8.5 billion a year earlier. Semiconductors made up 44.7% of total exports, the largest share among all product categories. This growth continues a strong streak for Korean chipmakers, including Samsung, which has been expanding its memory offerings for AI applications.
Other key industries also experienced solid growth. Exports of petroleum products increased by 68.3% compared to last year. Automobile shipments rose 40.9%, and steel product exports grew 42.6%. The broad-based expansion across major sectors contributed to the overall momentum, supplementing the impact of semiconductors. These sectors collectively pushed the daily export average to a record level for this period.
Exports to China and the US more than double
Exports to China increased by 154.4% year on year during the first 20 days of October. Shipments to the United States grew by 154.9%, slightly outpacing the rise to China. Exports to Vietnam and the European Union also saw gains over the same period, based on customs data. The figures reflect rising demand across South Korea’s top export markets at the same time.
Imports grew more slowly, up 42.8% to $47.1 billion. This created a trade surplus of $14.5 billion for the first 20 days of October. The increase in exports of high-value items like chips helped widen the surplus. Exports exceeded imports by about 31%, giving South Korea a strong start to the final quarter of the year.
Year-to-date exports total $876.3 billion
From the start of the year through October 20, South Korea’s cumulative exports reached $876.3 billion. The country’s total trade surplus for this period stood at $266.9 billion. These latest results build on earlier strong performance. In August, exports jumped 68.7% to $98.25 billion, supported by robust chip sales.
The preliminary data for the first 20 days offer an early look at South Korea’s overall trade for October. Full monthly figures are usually released at the start of the following month. Semiconductors will continue to be a key focus, given their 44.7% share of total exports. Improvements in petroleum products, automobiles, and steel also suggest broader strength in South Korea’s export sector.