South Korea's chip exports surged 163.9% year-over-year in the first 20 days of March, with strong artificial intelligence demand continuing! Oil product export value grew 49% to reach $3.2 billion.

South Korea’s customs data released on Monday showed that, driven by strong overseas demand for semiconductors, South Korea’s exports in the first 20 days of March increased by 50.4% year-on-year.

The data indicated that from March 1 to 20, South Korea’s exports reached $53.3 billion, the highest for the same period in history, compared to $35.4 billion last year.

Imports during the same period rose 19.7% year-on-year to $41.2 billion, resulting in a trade surplus of $12.1 billion.

By category, semiconductor exports surged 163.9% year-on-year to a record high of $18.7 billion, mainly driven by strong demand for artificial intelligence servers, which pushed storage chip prices upward.

This figure set a new record for semiconductor exports during the same period in history.

Chip exports accounted for 35% of South Korea’s total exports during this period, up 15.1 percentage points from last year.

Exports of petroleum products increased by 49%, reaching $3.2 billion.

Automobile exports grew 11.1% year-on-year to $3.7 billion, while ship exports declined 3.9% to $2.1 billion.

By destination, South Korea’s exports to its largest trading partner, China, increased 69% year-on-year to $10.8 billion.

Despite tariffs, exports to the United States still grew 57.8% to $10.6 billion.

(Edited by: Song Zheng HN002)

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