Seoul: South Korea's exports surged by 44.4 percent in the first 10 days of February compared to the same period last year, fueled by a robust demand for semiconductors, as revealed by data on Wednesday.
According to Yonhap News Agency, the Korea Customs Service reported that outbound shipments reached US$21.39 billion during the February 1-10 period, a significant increase from the $14.81 billion recorded a year earlier. Imports also saw a rise of 21.1 percent year-on-year, totaling $20.74 billion, resulting in a trade surplus of $64 million.
The daily average volume of exports climbed 34.8 percent compared to the previous year, with the number of working days increasing slightly by 0.5 day to 7.5 days. A notable driver was the semiconductor sector, where exports soared 137.6 percent year-on-year to $6.73 billion, reflecting the ongoing global artificial intelligence (AI) boom. This sector alone accounted for 31.5 percent of the country's total exports during the period, an increase of 12.3 percentage points from the same timeframe last year.
Exports of petroleum products also experienced a rise, jumping 40.1 percent to $1.52 billion. Conversely, the automotive sector faced a decline, with exports decreasing by 2.6 percent to $1.35 billion, while vessel shipments fell 29 percent to $663 million.
Regarding export destinations, shipments to China, South Korea's leading trading partner, increased by 54.1 percent year-on-year to $4.55 billion. Exports to the United States also rose, climbing 38.5 percent to $3.6 billion, despite challenges from the tariff policies of U.S. President Donald Trump's administration. In January, exports grew 33.9 percent from a year earlier, reaching $65.85 billion, driven by strong semiconductor demand.