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Korea's exports rise 1.3% on-year in August on robust chip demand: Data

Published: 01 Sep. 2025, 11:13

The photo shows export containers stacked at Pyeongtaek Port in Pyeongtaek, Gyeonggi on Aug. 26. [NEWS1]

Korea's exports grew 1.3 percent from a year earlier in August, despite U.S. tariff effects, thanks to strong demand for semiconductors, government data showed Monday.

Outbound shipments came to $58.4 billion last month, rising for the third consecutive month, according to data compiled by the Ministry of Trade, Industry and Energy.

Imports decreased 4 percent on-year to $51.89 billion, resulting in a trade surplus of $6.51 billion.

Semiconductor exports jumped 27.1 percent on-year to reach an all-time high of $15.1 billion in August.

Auto exports increased 8.6 percent on-year to $5.5 billion won, marking the highest figure for any August.

Ship exports surged 11.8 percent to $3.14 billion, marking the sixth consecutive month of increase, while shipments of agro-fisheries products added 3.2 percent to $960 million, also the highest for any August.

Shipments of cosmetics expanded 5.1 percent to $870 million, and exports of electronic devices climbed 5.6 percent to $1.29 billion, both the highest figures for August in history.

By destination, exports to the United States plunged 12 percent on-year to $8.74 billion as shipments of steel, automobiles and machinery declined due to impacts of the Donald Trump administration's sweeping tariff scheme.

Containers ready for export are piled up at a port in Pyeongtaek, Gyeonggi on Aug. 18. [YONHAP]

Exports to China fell 2.9 percent to $11.01 billion on overall weakness of export items.

On the other hand, exports to the Association of Southeast Asian Nations (Asean) advanced 11.9 percent to $10.89 billion, up for the third consecutive month, driven by strong demand for semiconductors and ships.

Shipments to the Middle East rose 1 percent on-year to $1.4 billion, while exports to the Commonwealth of Independent States (CIS), which includes Russia, escalated 9.2 percent to $1.12 billion.

"Exports in August showed solid growth for the third consecutive month, led by our two major export items, which are semiconductors and automobiles," Industry Minister Kim Jung-kwan said.

"This achievement reflects the firm competitiveness and unwavering commitment of Korean companies to exports, despite challenging external conditions, such as U.S. tariff policies," he added, stressing that the government will continue its efforts to mitigate export risks for local companies.

Kim highlighted that the government will announce a support package this month for small and medium-sized exporters to help ease their management burdens, diversify their export destinations and boost their fundamental competitiveness.

Yonhap