This year’s exports by Korea are expected to achieve the best performance ever based upon the fact that its exports have been positive for six consecutive months since the new administration took office, reaching $640.2 billion through November — despite a challenging trade environment, including U.S. tariffs, and rising oil prices.
According to the Ministry of Trade, Industry and Energy (MOTIE), the nation’s exports reached $640.2 billion through November, marking the highest performance ever. This is $11.5 billion higher than the second-highest figure of $628.7 billion recorded in 2022.

This year, the nation’s exports are being driven by the strong competitiveness of key manufacturing industries such as semiconductors, automobiles, ships, and bio, as well as the defense industry. With the global spread of the Korean Wave, Korean consumer goods such as K-food and beauty products are also showing strong performance.
Export markets have diversified beyond their focus on the USA and China, encompassing ASEAN, the EU, and other regions. The number of SMEs exporting reached a record high of 89,000 in the third quarter, with SME exports reaching a record high of $87.1 billion.

Despite the uncertainty stemming from the United States, semiconductors were a major factor in this year’s improved export performance.
Automobile exports also recorded robust performance, rising 13.7% year-on-year. Exports of wireless communication devices and secondary batteries also improved by 1.6% and 2.2%, respectively, during the same period.
With an aim to elevate their sustainable global leadership, Korea’s promising and global- leading companies are ceaselessly making creative efforts to develop and release competitive new items, which are expected to capture keen attention in global markets. Korean companies are strategically eying these global target markets to accomplish their export volume in the New Year — boosted by this year’s excellent performance, despite the increasingly tough market environments.

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