South Korea’s October Exports Rise 93.7% as AI Chips Lead Growth
Exports reached $115.28 billion in October, the second-highest monthly total on record, as semiconductor demand and a favourable working-day comparison lifted annual growth.
South Korea's exports rose 93.7% from a year earlier to $115.28 billion in October, government figures released on Sunday, 1 November, show. A surge in semiconductor shipments drove much of the increase, alongside a calendar effect that made the annual comparison unusually strong.
The October total was the second-highest monthly export figure on record, below September's approximately $120.9 billion. The distinction matters: October delivered the fastest year-on-year export growth since January 1974, according to Reuters, but not the highest monthly value.
One reason for the extraordinary growth rate was the Chuseok holiday calendar. October 2026 had more working days than the corresponding month in 2025, increasing the volume of business that could be recorded during the month. Strong global demand for computing hardware added a separate, substantial boost.
Semiconductor shipments dominate
Semiconductor exports reached about $56.44 billion, up 259.4% from a year earlier and accounting for nearly half of all exports. Demand for high-performance memory and other chips used in artificial intelligence infrastructure has supported large Korean manufacturers and their suppliers.
Computer exports also rose sharply as buyers expanded servers and data centres. Other sectors contributed: according to Yonhap's breakdown of the trade ministry release, vehicle exports were up 18.1%, while shipments of petroleum products and cosmetics also increased.
Exports to China and the United States recorded particularly strong growth. The figures reflect demand across several industries, although the outsized contribution from electronics makes South Korea's trade performance especially sensitive to the global investment cycle in advanced computing.
A large surplus, with imports rising too
Imports climbed 36% to $72.78 billion, leaving a monthly trade surplus of $42.5 billion. That is a substantial positive balance, but it was smaller than the approximately $49.97 billion surplus reported for September.
Total exports for January through October reached roughly $930 billion. Government officials have suggested that the annual figure could cross $1 trillion during November if the present pace continues. That is a forecast, not a milestone already reached.
The headline figure is therefore a combination of a genuine semiconductor-led boom and a comparison flattered by the holiday calendar. Future months will show how much of the increase persists as working-day patterns normalise and global technology spending changes.
The figures cover trade conducted in October and were made public by the ministry on 1 November.
Sources
Musa Ersoy
Musa Ersoy is an editor and writer at DEFUXA Global News, covering developments in the United Kingdom and around the world. He researches news stories using official statements, credible sources and independently verifiable information. His editorial work focuses on factual ac…
Author profile and articles