South Korea Exports Surge 53.9% in Early July on Semiconductor Boom

South Korea's exports surged 53.9% year-over-year during July 1-10, reaching $29.8 billion according to customs data released on the 13th. The growth was driven by a 193% spike in semiconductor shipments, which accounted for 37.6% of total exports during the period. This marks the highest export volume ever recorded for a 1-10 day period, surpassing the previous record of $28.6 billion set in June.

Semiconductors Drive Record Export Performance

Semiconductor exports jumped 193.0% during the July 1-10 period, maintaining the sector's boom trajectory into the second half of the year. The semiconductor share of total exports rose to 37.6%, up 17.8 percentage points from the prior year. Daily average exports reached $3.51 billion over 8.5 working days, matching the same number of working days as the previous year.

Other major export categories showed strong growth: passenger vehicles increased 5.7%, petroleum products rose 22.7%, and computer peripherals surged 208.1%. By destination, China led with 88.7% growth, followed by Vietnam at 92.8%, the United States at 43.2%, Taiwan at 49.7%, and the European Union at 28.9%. The top three export markets—China, the United States, and Vietnam—accounted for 51.7% of total shipments.

July 1-10 export and import statistics [Source: Korea Customs Service]

Imports Rise 17.4% on Energy and Manufacturing Inputs

Imports during July 1-10 totaled $23.5 billion, up 17.4% year-over-year. Semiconductor imports increased 49.6%, crude oil rose 19.0%, gas climbed 24.8%, machinery gained 7.8%, and semiconductor manufacturing equipment jumped 49.5%. Energy imports—including crude oil, gas, and coal—rose 23.4% overall.

By country, imports from China increased 25.1%, the United States 4.7%, Japan 7.6%, and Taiwan 57.6%. Imports from the European Union decreased 4.4%.

Trade Surplus Reaches $6.4 Billion

The trade balance for July 1-10 recorded a surplus of $6.4 billion, as export value exceeded import value. This reflects the continued strength of semiconductor-driven export performance outpacing import costs during the period.

FAQ

What drove South Korea's export growth in early July? South Korea's exports increased 53.9% during July 1-10 compared to the same period last year, driven primarily by a 193% surge in semiconductor shipments. Semiconductors accounted for 37.6% of total exports during the period.

How large was South Korea's trade surplus in early July? South Korea recorded a trade surplus of $6.4 billion during July 1-10, with exports totaling $29.8 billion and imports reaching $23.5 billion.