August Exports

August Exports Record US$58.4 Billion

Increasing 1.3% year-on-year

South Korea’s August exports increased 1.3% year-on-year to $58.4 billion, marking the third consecutive month of positive growth.
Meanwhile, import/export trade continued its upward trend for the seventh consecutive month, recording a surplus in August of $6.51 billion, with exports increasing and imports decreasing by 4.0%.
According to the ‘August 2025 Export and Import Trends’recently released by the Ministry of Trade, Industry and Energy, exports reached $58.4 billion (+1.3%) in August, continuing the upward trend ― despite a one-day decrease in operating days compared to the same month last year.
This export performance marks the highest ever for August, and marks the third consecutive month since June when monthly exports reached record highs. Taking operating days into account, daily average exports increased by 5.8% to $2.6 billion.
By product, exports of three of Korea’s 15 major export items increased in August. Semiconductor exports rose significantly by 27.1% to $15.1 billion, breaking the previous record high for the first time in two months, driven by continued robust demand for semiconductors, particularly for servers, and favorable fixed prices for memory.

Automobile exports, driven by positive growth in demand for both eco-friendly vehicles, including pure electric vehicles (EVs) and hybrids, and increased used car exports, reached $5.5 billion (+8.6%), the highest August figure ever, continuing growth for the third consecutive month.
Shipbuilding exports also rose by 11.8% to $3.14 billion, maintaining positive growth for the sixth consecutive month, driven by continued deliveries of high-priced vessels ordered in 2022 and 2023.

However, petroleum products ($4.17 billion, -4.7%) and petrochemicals ($3.38 billion, -18.7%) continued to decline, driven by falling oil prices and a global oversupply, which led to lower export prices.
By region, exports increased in August to three of the nine major regions. Driven by the strong performance in semiconductors and ships, exports to ASEAN reached $10.89 billion (+11.9%), the highest August figure ever, continuing positive growth for the third consecutive month.

Exports to the Middle East rose by 1.0% to $1.4 billion, turning positive for the first time in a month. Exports to the CIS increased by 9.2% to $1.12 billion, marking the sixth consecutive month of growth.
Meanwhile, exports to China declined across most categories, although semiconductor exports increased, with this largest export item, reaching $11.01 billion (-2.9%), flat year-on-year. This marked the second consecutive month of exports exceeding $11 billion.

Exports to the United States fell by 12.0% overall to $8.74 billion, driven by declines in key export items such as automobiles, general machinery, and steel. However, key tariff-exempt items, such as semiconductors and wireless communication devices, showed increases, mitigating the decline somewhat.
Meanwhile, exports to Taiwan, in addition to the nine major regions, reached $4.38 billion (+39.3%), the highest August figure ever, driven by the robust demand for semiconductors.
Total imports in August decreased 4.0% to $51.89 billion. Energy imports (to $11.02 billion) decreased by 12.2%, and non-energy imports (to $40.86 billion) also decreased by 1.5%.
The overall trade balance recorded a surplus of $6.51 billion, an increase of $2.93 billion. The cumulative surplus from January to August reached $40.97 billion, an increase of $10.8 billion.

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