South Korea exports jump 93.7% as AI chip shipments surge
South Korea’s exports rose 93.7% year on year in October to €106.2 billion (US$115.28 billion), their strongest increase since January 1974. The trade ministry said semiconductor exports climbed 259.4% as global investment in AI infrastructure supported demand; the holiday calendar also meant more working days than a year earlier.
Bottom line — Trade minister Kim Jung-kwan said South Korea is on course to exceed €920.9 billion (US$1 trillion) in annual exports within November.
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The trade ministry put semiconductor exports at €52.0 billion (US$56.44 billion) for October.
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Computer sales rose 496.6%, with the trade ministry citing demand for servers supporting AI services.
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Exports to Europe increased 56.4%, while shipments to China rose 133.6%, according to government data.
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Imports rose 36% to €66.9 billion (US$72.78 billion), the biggest annual increase since January 2022.
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South Korea’s October trade surplus was €39.1 billion (US$42.50 billion), below September’s record €45.9 billion (US$49.97 billion).