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Korean daily exports to the United States fall to near-Covid-19 levels

Published: 22 Sep. 2025, 17:38 Updated: 22 Sep. 2025, 19:31

Cars ready for export are parked at a port in Pyeongtaek, Gyeonggi, on Sept. 16. [YONHAP]

Korea’s exports rose significantly through mid-September compared to last year, boosted by more working days. But when adjusted for the calendar effect, average daily exports fell 10.6 percent, with shipments to the United States plunging 16.4 percent due to tariffs.

From Sept. 1 to 20, exports reached $40.1 billion, up 13.5 percent from a year earlier and the highest figure ever for that period, the Korea Customs Service reported on Monday.

By item, exports of semiconductors grew 27 percent, passenger cars 14.9 percent, ships 46.1 percent and wireless communication devices 3.3 percent. By destination, shipments to the United States rose 6.1 percent, to China 1.6 percent, to Vietnam 22 percent and to the European Union 10.7 percent. Exports to the United States during the period totaled $6.55 billion.

But when adjusted for working days, daily exports averaged $2.43 billion, down 10.6 percent from $2.72 billion the previous year. This year had 16.5 working days during the period, compared to 13 days in 2024, when the Chuseok harvest holidays fell during mid-September.

Daily exports to the United States averaged $396 million, compared to $474 million last year, down 16.4 percent. By sector, daily auto exports fell 9.2 percent to $207 million. Korea and the United States agreed to lower reciprocal tariffs from 25 percent to 15 percent on July 30, but automobiles remain subject to the 25 percent tariff.

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

The tariff impact has been particularly evident in recent months. In August, exports to the United States dropped 12 percent to $8.74 billion, the steepest decline since May 2020, when shipments fell 29.4 percent at the onset of the Covid-19 pandemic. It also marked the first time since September 2023 that U.S.-bound exports fell below the $9 billion mark.

The Ministry of Trade, Industry and Energy convened on Monday to review export trends by sector. Cumulative exports from January to August totaled $453.8 billion, up 0.9 percent from the same period last year. Semiconductor exports hit a record high of $103.1 billion for the eight-month period, buoyed by demand from AI server investments and a rebound in memory chip prices.

“Exports in September are expected to extend gains for a fourth consecutive month, driven by semiconductors, autos and biohealth products,” said Park Jung-sung, director for trade and investment at the Korean ministry. “We will provide emergency support for companies hit by U.S. tariffs to sustain export momentum.”

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY AHN HYO-SEONG [[email protected]]