Seoul, Dec 1 – South Korean exports jumped 8.4 % from a year earlier in November, reaching just over $61 billion and marking a sixth straight month of gains, according to new government figures released Monday.
The Ministry of Trade, Industry and Resources reports that last month’s outbound shipments hit $61.04 billion, the highest November total on record. Imports nudged up 1.2 %, totaling $51.3 billion and giving the country a trade surplus of $9.73 billion.
Cumulative exports from January to November now sit at $640.2 billion, a record high for the period, and suggest that annual exports may exceed $700 billion for the first time ever this year.
Semiconductors dominated the picture, with shipments soaring 38.6 % year‑on‑year to an all‑time monthly peak of $17.26 billion. This surge was driven by rising memory‑chip prices amid robust demand from data‑centre customers. Chip exports have posted growth for nine consecutive months.
Auto exports also climbed, up 13.7 % to $6.41 billion, thanks to solid performance in internal‑combustion and hybrid vehicles—a reversal of the 10.5 % dip seen in October. Over the first eleven months, semiconductor exports reached $152.6 billion and auto exports $66.04 billion, both the highest totals for that span.
Other categories saw modest gains: wireless communication devices rose 1.6 % to $1.73 billion, while secondary‑battery shipments increased 2.2 % to $670 million, ending a six‑month losing streak. Electrical equipment, agricultural and fishery goods, and cosmetics all grew by more than 5 %, 3 %, and 4 %, respectively, reaching $1.27 billion, $1.04 billion, and $950 million.
Some sectors lagged. Petroleum exports fell 10.3 % to $3.28 billion, and petrochemicals dropped 14.1 % to $3.06 billion, reflecting a global oversupply. Steel exports slid 16 % to $2.3 billion as U.S. tariffs and a global demand slowdown limited new orders.
Regionally, shipments to the United States slipped barely 0.2 % year‑on‑year for November, totalling $10.35 billion. In the first 25 days of the month, semiconductor and auto exports to the U.S. rose 39 % and 11 % to $1.1 billion and $2.2 billion, respectively. Steel shipments fell 24 % to $200 million and machinery exports fell 18 % to $800 million.
China saw a 6.9 % increase, reaching $12.07 billion, driven by strong demand for semiconductors, petroleum, and machinery. ASEAN imports grew 6.3 % to $10.42 billion, led by chips, while Middle‑East shipments jumped 33.1 % to $2.18 billion. The European Union saw a slight dip of 1.9 % to $5.34 billion as steel and shipbuilding demand weakened.
Industry Minister Kim Jung‑kwan highlighted the upward export trend, attributing it to the solid performances of semiconductors, autos, and bio‑health products, as well as a broader mix of goods. He pledged to maintain growth momentum amid global trade uncertainties. He also noted that Korea’s recent filing of a special bill supporting a $350 billion investment commitment to the U.S. under a bilateral tariff deal has paved the way for the U.S. to reduce tariffs on Korean cars and auto parts.
— LatestNewsX
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