South Korea exports nearly double in October, strongest growth since 1974
October shipments reached $115.28 billion as year-to-date exports topped $900 billion for the first time.
TL;DR
- Exports rose 93.7% year over year to $115.28 billion in October, Reuters reported.
- Semiconductor exports jumped 259.4%, while January-to-October exports reached $930 billion.
- The ministry said the country was on course to reach $1 trillion in annual exports in November.
Reuters reported that South Korean exports rose 93.7% from a year earlier to $115.28 billion in October, the strongest growth since January 1974. The increase exceeded the median forecast in a Reuters poll. [1]
Semiconductor exports rose 259.4% as prices and volumes remained high, while computer exports climbed 496.6%, Reuters reported. The trade ministry linked the chip demand to global technology firms’ AI infrastructure investment. [1]
Cumulative exports from January through October reached $930 billion, surpassing $900 billion for the first time. SBS separately reported the milestone and cited the Ministry of Trade, Industry and Energy’s figures. [1] [2]
The ministry said exports were on course to exceed $1 trillion during November, but that remains a forecast. Reuters noted that October’s growth also reflected a favorable calendar effect from the timing of the Chuseok holidays. [1] [2]
Why it matters
The export surge shows how AI-related semiconductor demand is affecting South Korea’s trade balance, while the calendar effect complicates direct year-on-year comparisons. The $1 trillion annual milestone remains a forecast until the data confirm it.
Editor's note
All reported figures are tied to October preliminary trade data; the $1 trillion milestone is a ministry forecast, not yet a result.