South Korea’s October exports rose 93.7% year over year to $115.28 billion, according to figures attributed to the Ministry of Trade, Industry and Resources (MOTIR), as semiconductor shipments led the increase.
Reuters reported the growth rate was the highest since January 1974 and exceeded the 93.2% median forecast in its poll of nine economists. EconoTimes had previewed the poll in a pre-release report.
Yonhap reported semiconductor exports rose 259.4% to $56.44 billion, just under half of the overall export total. Yonhap and Reuters linked the increase to sustained chip prices and demand amid investment in artificial intelligence infrastructure. Financial News reported computer exports increased 496.6% to $5.85 billion, citing demand for server solid-state drives.
Reuters reported October had 22 working days, compared with 20 in October 2025, because of the timing of Chuseok. Before the figures were released, Park Chong-hoon, an economist at Standard Chartered, said expected increases in exports and imports “mainly reflect calendar effects and favourable base comparisons.”
Figures reported by outlets citing MOTIR put imports up 36% to $72.78 billion and the monthly trade surplus at $42.50 billion. The Reuters poll had projected import growth of 39.9% and a surplus of $37.24 billion.
The Korea Customs Service (KCS) finalized September exports at $121.05 billion, up 83.7%, and the surplus at $49.972 billion. October’s export total was lower than September’s even as its year-over-year growth rate accelerated. MOTIR’s initial September release put exports at $120.94 billion, up 83.5%; the KCS figures are the later finalized data.
MOTIR’s September release said exports from January through September totaled $814.5 billion, exceeding the full-year 2025 record of $709.3 billion. Financial News, citing the October ministry release, reported annual exports could exceed $1 trillion in November for the first time.
