July exports near $100 billion, second-highest on record

South Korea's export performance in July neared $100 billion, continuing a strong trade trend and achieving the second-highest monthly figure on record. The Ministry of Trade, Industry and Energy announced on August 1 that July exports totaled $98.9 billion, a 62.8% increase compared to the same period last year.

This robust performance follows a record-breaking June, when exports surpassed $100 billion for the first time, reaching $102.25 billion. The July figures represent the second-highest monthly export value ever recorded. The key driver behind this sustained growth remains the semiconductor industry, with exports in this sector increasing by 179% year-on-year to $41 billion. This marks the second consecutive month that semiconductor exports have exceeded the $40 billion mark.

The strong showing in exports is a positive indicator for South Korea's economy, demonstrating resilience and continued demand for its key products, particularly in the global technology market. The sustained high performance suggests a healthy trade balance and contributes significantly to the nation's economic output.