Global · Trade · Source: motir.go.kr · News archive (older than 3 days)

South Korea's October exports nearly double from a year earlier as chip sales climb

Published 1 Nov 2026

Editor: Hedal Kolanyi / AI-assisted

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Summary: South Korea shipped about $115.3 billion of goods abroad in October 2026, up 93.7% on October 2025, according to the trade ministry. Semiconductors made up almost half of the total, and the monthly trade surplus stayed above $40 billion for a second month.

What happened

The Ministry of Trade, Industry and Resources published its monthly trade figures on Sunday, 1 November 2026. The main numbers:

Exports: $115.28 billion, up 93.7% year on year. This is the second-highest month on record, after September 2026. Adjusted for working days, average daily exports rose 76% to $5.24 billion.
Imports: $72.78 billion, up 36.0%. Energy imports rose 63.1%; crude oil import volumes fell 6.3% but the unit price was 62.0% higher.
Trade balance: a surplus of $42.50 billion.
Semiconductors: $56.44 billion, up 259.4%. Computer exports rose 496.6% to $5.85 billion, which the ministry linked to server investment and demand for server SSDs.
By destination: shipments to China rose 133.6% to $26.98 billion and to the United States 185.8% to $24.90 billion. Exports to Latin America and the CIS region fell.
Year to date: exports for January to October reached $930 billion, up 60.6%, with a cumulative surplus of $294.9 billion.

Yonhap reported the same headline figures.

Background

The ministry linked the chip surge to continued capital spending by large technology companies on artificial intelligence, which kept both prices and volumes high. It also noted that the value of petroleum product exports rose 80.0% even though export volumes fell 7.5%, because oil prices stayed high amid supply uncertainty in the Middle East. The ministry put the average Dubai crude price at $110.7 a barrel. Ship exports fell 43.6%, which the ministry put down to a large offshore plant delivery in October 2025.

Trade minister Kim Jung-kwan said, in our own translation, that annual exports were now all but certain to pass $1 trillion during November. According to the ministry, about $70 billion remains to reach that level. He added that many small and medium-sized firms still face difficulties from protectionism, supply-chain shifts and Middle East tensions.

Why it matters for markets and crypto

Korean trade data is one of the first monthly readings on global demand for electronics and on the strength of AI-related investment. It also reflects the impact of high energy prices on import bills. This data relates to the wider economy and does not express a view on any asset.

What to watch next

During November 2026: whether annual exports pass $1 trillion, as the ministry expects. The ministry's release does not give a date for the next monthly report.

Sources

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