NewKerala.com

South Korea's Exports Soar 36.7% on AI Chip Boom, Setting New Record

South Korea's exports surged 36.7% year-on-year in the first ten days of April, reaching a record $25.2 billion. The growth was powered by a massive 152% increase in semiconductor exports to $8.6 billion, fueled by the global artificial intelligence boom. Exports to China, its top trading partner, jumped 63.8%, while shipments to the United States also rose 24%. The period resulted in a trade surplus of $3.1 billion, with imports increasing by 12.7%.

Key Points: S. Korea Exports Jump 36.7% on Strong Semiconductor Demand

  • Exports hit record $25.2B
  • Chip exports surge 152% to $8.6B
  • Shipments to China soar 63.8%
  • Trade surplus of $3.1B achieved
2 min read

Exports up 36.7 pc during 1st 10 days of April on robust chip demand: S. Korea

South Korea's exports surged 36.7% in early April, driven by a 152% boom in semiconductor shipments amid global AI demand, setting a new record.

"It marked the country's highest exports ever recorded for the first 10 days of a month - Korea Customs Service data"

Seoul, April 13

South Korea's exports jumped 36.7 per cent from a year earlier in the first 10 days of April, driven by strong overseas demand for semiconductors, data showed on Monday.

Outbound shipments reached US$25.2 billion in the April 1-10 period, compared with $18.4 billion tallied in the same period last year, according to the data from the Korea Customs Service.

It marked the country's highest exports ever recorded for the first 10 days of a month, surpassing the previous record of $21.7 billion set in the same period last month, reports Yonhap news agency.

By item, exports of semiconductors surged 152 percent on-year to $8.6 billion amid the global artificial intelligence (AI) boom.

The figure marked the highest amount ever recorded for the first 10 days of a month.

Chip exports accounted for 34 percent of the country's total exports over the cited period, up 15.6 percentage points from the same period last year.

Exports of petroleum products jumped 38.6 percent on-year to $1.8 billion.

But automobile exports went down 6.7 percent to $1.7 billion, while shipments of auto parts dipped 7.3 percent on-year to $654 million.

By destination, exports to China, South Korea's top trading partner, soared 63.8 percent on-year to $5.7 billion.

Shipments to the United States jumped 24 percent to $4.3 billion despite the tariff scheme by U.S. President Donald Trump's administration, the data showed.

Imports went up 12.7 percent on-year to $22.1 billion over the cited period, resulting in a trade surplus of $3.1 billion, the data showed.

By item, imports of semiconductors rose 29.7 percent on-year and crude oil gained 8.7 percent, while machinery fell 7.4 percent.

In particular, crude oil imports extended their upward trend for a third straight month, reaching $2.8 billion in the first 10 days of April, following $2 billion in the first 10 days of February and $2.3 billion in March.

The agency attributed the increase to a combination of higher global oil prices amid tensions in the Middle East and the weak Korean won.

- IANS

Share this article:

Reader Comments

P
Priya S
A 152% surge in chip exports is mind-blowing! It shows how critical this sector is for the global economy. While it's great for South Korea, it's a reminder of our import dependency. Hope the new semiconductor plants in Gujarat and elsewhere start showing results soon.
R
Rohit P
Interesting to see exports to China up by 63.8%. Despite all the geopolitical talk, business finds a way. The trade surplus is healthy too. Our exports have been growing, but we need to capture more of this high-value tech trade. Jai Hind!
S
Sarah B
The auto sector dip is a bit worrying, even for them. Global demand might be shifting. The crude import increase due to Middle East tensions and weak currency is something we in India understand all too well. It hits the common man's pocket directly.
V
Vikram M
South Korea has companies like Samsung and SK Hynix that are global leaders. We need to build our own champions in electronics and tech manufacturing. The PLI schemes are a good start, but execution is key. Let's learn from their focus.
K
Karthik V
With respect, while these numbers are impressive, we should also look at the sustainability. The AI boom is driving this, but what happens if that slows? Also, heavy reliance on one sector (chips at 34% of exports) can be risky. Diversification is important, as our own economy shows.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50