S. Korea’s May exports surge 53% to all-time high
South Korea’s exports jumped 53 percent year-on-year to a record 87.8 billion US dollars in May, marking the third straight month above the 80 billion US dollars mark, according to government data released Monday, Qazinform News Agency cites Yonhap.
The surge was driven by booming semiconductor demand fueled by global investment in AI infrastructure. Chip exports soared 169.4 percent to a record 37.2 billion US dollars, with strong gains in D-RAM and NAND flash memory shipments. Computer exports also nearly tripled due to rising demand for AI server storage.
Exports to China climbed 80.9 percent, while shipments to the United States rose 59.1 percent. Trade with ASEAN countries also posted strong growth.
Petroleum product exports increased despite lower shipment volumes, supported by higher oil prices linked to tensions in the Middle East. Cosmetics, biohealth products, agro-fisheries goods, and ship exports also recorded gains.
However, auto exports fell 5.9 percent due to supply disruptions, fewer working days, and the impact of U.S. tariffs. Steel and machinery exports also declined.
Imports rose 20.8 percent to 60.8 billion US dollars, leaving South Korea with a trade surplus of nearly 27 billion US dollars in May.
Earlier, Qazinform reported Kazakhstan boosts exports to the UAE by 42.1 percent.
