South Korea’s Exports Hit a Record 120.9 Billion Dollars in September as Semiconductor Shipments Jump 263 Percent
South Korea’s exports rose 83.5 percent year on year to 120.94 billion dollars in September, the first month above 120 billion, the Ministry of Trade, Industry and Resources said on 1 October. Imports rose 26.0 percent to 71.09 billion dollars, leaving a record trade surplus of 49.85 billion. Semiconductor exports rose 262.8 percent to 60.30 billion dollars, and exports other than semiconductors rose 23 percent.
Chips Make Up Half of Exports
Semiconductors accounted for about 49.9 percent of September exports, on our calculation. Computer exports rose 435.3 percent to 7.00 billion dollars on demand for AI infrastructure, and petroleum products rose 72.0 percent to 7.22 billion, although their export volumes fell 6.9 percent. Average daily exports, adjusted for working days, rose 105 percent to 5.63 billion dollars. Exports grew in 11 of the 20 main items.
South Korea’s main exports, September 2026
| Item | Billion dollars | Change, year on year |
|---|---|---|
| Semiconductors | 60.30 | +262.8% |
| Petroleum products | 7.22 | +72.0% |
| Computers | 7.00 | +435.3% |
| Automobiles | 6.05 | -5.5% |
| General machinery | 4.07 | -3.2% |
| Petrochemicals | 3.95 | +5.1% |
| Ships | 3.76 | +29.9% |
Ministry of Trade, Industry and Resources. Automobile exports reflect the Chuseok holiday falling in September this year against October in 2025; daily average automobile exports rose 5.5 percent.
China and the US Lead the Gains
Exports rose in 6 of the 9 main markets. Shipments to China and the US together came to 50.34 billion dollars, about 41.6 percent of the total, on our calculation.
Exports by destination, September 2026
| Market | Billion dollars | Change, year on year |
|---|---|---|
| China | 26.01 | +122.7% |
| United States | 24.33 | +137.0% |
| ASEAN | 21.29 | +92.6% |
| EU | 8.65 | +20.9% |
| Middle East | 1.60 | -14.1% |
Year on year change in dollar terms.
On the import side, energy imports rose 38.0 percent to 12.96 billion dollars and non energy imports rose 23.6 percent to 58.13 billion. Crude oil imports rose 38.4 percent to 8.00 billion dollars, with volumes up 2.0 percent and prices up 35.7 percent.
Nine Month Exports Already Top the 2025 Record
Exports from January to September reached 814.5 billion dollars, already 14.8 percent above the full year record of 709.3 billion set in 2025, on our calculation. The cumulative trade surplus reached 252.5 billion dollars, up 202.7 billion from the same period last year.
Why it matters: Semiconductors now make up about half of South Korea’s exports, and the first 9 months have already beaten last year’s annual record by about 105 billion dollars, on our calculation.
Outlook: Minister JK Kim said annual exports are now expected to reach 1 trillion dollars, which would need about 185.5 billion dollars in the last 3 months, on our calculation, or about 61.8 billion a month.
Sources: Ministry of Trade, Industry and Resources, The Edge.
