Semiconductor shipments push South Korea's August exports up 68.7 per cent
South Korea's outbound shipments surged 68.7 per cent to 98.25 billion dollars in August, driven by record semiconductor exports that climbed 209 per cent to clear the 40 billion dollars threshold for a third consecutive month. Chips now account for 47.5 per cent of the country's total exports as hyperscalers including Google and Amazon raise spending on artificial intelligence infrastructure. Imports rose 22.6 per cent to 63.51 billion dollars, yielding a 34.75 billion dollars trade surplus.
Economics & Markets··Midday
August exports reached 98.25 billion dollars
According to Ministry of Trade, Industry and Resources data, South Korea's August exports rose 68.7 per cent to 98.25 billion dollars. The 98.25 billion dollars figure is the ministry's August outbound-shipment total. The 68.7 per cent is the rise from a year earlier. The Ministry of Trade, Industry and Resources published both figures in the same August slice. South Korea's outbound sales are the August headline at 98.25 billion dollars and 68.7 per cent. The ministry print puts August exports at 98.25 billion dollars.[1]
Semiconductor exports climbed 209 per cent to 46.65 billion dollars
Semiconductor exports climbed 209 per cent, with The Korea Times reporting the record volume at 46.65 billion dollars and Yahoo Finance rounding it to 46.7 billion dollars. The shipments remained above 40 billion dollars for a third consecutive month. This line swelled as hyperscalers including Google and Amazon raised spending on artificial intelligence infrastructure. The semiconductor figure is the largest slice of the August export total. With this surge, chips now account for 47.5 per cent of South Korea's total exports, making up almost half of the country's outbound shipments. The Ministry of Trade, Industry and Resources files the chip shipments alongside Google and Amazon artificial-intelligence infrastructure spending.[1], [2]
Imports were 63.51 billion dollars and the surplus 34.75 billion dollars
August imports rose 22.6 per cent year-on-year to 63.51 billion dollars. The Ministry of Trade, Industry and Resources set 63.51 billion dollars of imports beside 98.25 billion dollars of exports. The 22.6 per cent represents a much slower increase compared to the export surge. On the overall balance, The Korea Times reports the August trade surplus at 34.75 billion dollars, while Yahoo Finance places the figure at nearly 34.8 billion dollars. 98.25 billion dollars outbound and 63.51 billion dollars inbound are the two sides of this surplus. The ministry builds the August balance with those three sums.[1], [2]
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