Monthly semiconductor exports hit record $46.7 billion as August shipments rank third overall

South Korea’s semiconductor exports reached a monthly record of $46.65 billion in August, helping push total exports close to $100 billion.

The Ministry of Trade, Industry and Energy said total exports rose 68.7% from a year earlier to $98.25 billion. That ranked third among all monthly totals, behind $102 billion in June and $99 billion in July. The top three monthly records have all changed in the past three months.

Semiconductor shipments rose 209% year on year, surpassing the previous records set in June and July. The ministry attributed the continued strength to solid demand for artificial intelligence infrastructure, supported by increased capital spending from hyperscalers such as Google and Amazon. Semiconductor exports have exceeded $40 billion for three consecutive months.

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Semiconductor export strength is continuing, while exports of non-semiconductor products also recorded a high growth rate of 20%, which is positive because it shows that the foundation of our exports is expanding.

The figures show a rising trend through the year, from $25.1 billion in February to $32.8 billion in March, $37.2 billion in May, $44.8 billion in June and $46.7 billion in August. Imports rose 22.5% to $63.51 billion, leaving an August trade surplus of $34.75 billion. The surplus exceeded $30 billion for a third straight month, while the cumulative surplus for January through August reached $202.5 billion, up $162.2 billion from the same period last year.

Trade Minister Kim Jung-kwan said exports outside semiconductors also grew 20%, describing that as evidence that the country’s export base was broadening. He also warned that US tariff policy, stronger protectionism, supply-chain restructuring and the situation in the Middle East had created unusually high uncertainty for South Korean companies.

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Uncertainty in the trade environment facing our companies is higher than ever, due to the trade policies of major countries, including US tariff policy, the restructuring of global supply chains and the situation in the Middle East.