Korea Exports Surge 52.3% in July 1-20 Led by Semiconductor Boom

Korea's customs data revealed exports surged 52.3% to $54.9 billion during July 1-20 compared to the same period last year, marking a record high for the timeframe. The increase was driven by a 180.6% jump in semiconductor exports, which accounted for 40.3% of total exports. Daily average exports reached $3.79 billion, up 62.9% year-on-year, despite one fewer working day (14.5 days versus 15.5 days in the prior year). The trade surplus for the period totaled $12.2 billion as exports significantly outpaced imports.

Semiconductor Exports Surge 180.6% in July 1-20 Period

Semiconductor exports climbed 180.6% during July 1-20, according to customs data released July 21. The sector's share of total exports increased 18.4 percentage points to 40.3%. Other major export categories showed mixed results: petroleum products rose 33.4%, computer peripherals jumped 231.9%, while passenger vehicles declined 10.6%.

By destination, exports to China increased 94.1%, the United States 39.6%, Vietnam 82.4%, the European Union 30.3%, and Taiwan 41.8%. The top three markets — China, the United States, and Vietnam — accounted for 51.9% of total exports. The previous record for July 1-20 exports was $36.9 billion set in July 2024.

Imports Rise 20.0% Led by Semiconductors and Energy

Imports totaled $42.7 billion during July 1-20, up 20.0% from the prior-year period. Semiconductor imports increased 54.9%, crude oil 27.5%, semiconductor manufacturing equipment 56.9%, and gas 27.9%. Petroleum product imports fell 8.9% and passenger vehicle imports dropped 28.1%.

Energy imports — including crude oil, gas, and coal — rose 27.4% collectively. By origin, imports from China grew 21.8%, the United States 17.1%, the European Union 9.7%, Japan 14.6%, and Taiwan 45.7%.

Korea Records $12.2 Billion Trade Surplus in July 1-20

The trade balance registered a $12.2 billion surplus for July 1-20 as exports exceeded imports by a wide margin. The surplus reflected strong export performance across key sectors, particularly semiconductors, which offset higher import costs for energy and manufacturing inputs.

FAQ

What drove Korea's export growth during July 1-20?
Semiconductor exports surged 180.6%, accounting for 40.3% of total exports and driving the overall 52.3% increase to $54.9 billion.

How did Korea's trade balance perform in July 1-20?
Korea recorded a $12.2 billion trade surplus as exports of $54.9 billion significantly outpaced imports of $42.7 billion.

Which countries saw the largest increases in Korea's exports during July 1-20?
China recorded a 94.1% increase, Vietnam 82.4%, Taiwan 41.8%, the United States 39.6%, and the European Union 30.3%.