The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea announced today that Korea’s exports and imports for March 2025 rose 3.1 percent and 2.3 percent year-on-year, respectively, to USD 58.3 billion and $53.3 billion. The trade balance netted a surplus of approximately $5.0 billion.

Exports reached a second highest for the month, increasing for two months straight. The number of working days considered, the daily average export value also grew 5.5 percent to $2.7 billion.

Seven out of 15 major items advanced in the month, thanks to positive growth seen across all information technology (IT) goods. Semiconductor exports (up 11.9 percent to $13.1 billion) turned to an expansion, boosted by strong demand for high value-added memory chips like HBMs and DDR5s. Computers including solid-state devices (up 33.1 percent to $1.2 billion) and wireless communication devices (up 13.8 percent to $1.3 billion) each rose for the 15th and second consecutive month. Displays gained 2.9 percent to $1.5 billion, ending the seven-month losing streak.

Despite the slowdown of some electric vehicle (EV) models, automobile exports progressed 1.2 percent to $6.2 billion on the backs of demand for hybrid electric vehicles (HEVs) and gas-powered vehicles.

Ship exports recorded $3.2 billion (up 51.6 percent), a new high since December 2023 ($3.7 billion), snapping the downward streak. Bio-health exports (up 6.9 percent to $1.4 billion) increased for the second consecutive month, led by pharmaceuticals (up 13.2 percent to $0.9 billion).

By region, Korea’s exports expanded to six out of nine major destinations.

Exports to China (down 4.1 percent to $10.1 billion) faltered from the decline of semiconductor exports, in spite of the robust performance of petrochemicals and wireless communication devices.

U.S.-bound exports climbed 2.3 percent to $11.1 billion and those to ASEAN also surpassed China-bound exports with $10.3 billion (up 9.1 percent) for the second consecutive month. To the EU, ship exports doubled and bio-health items (up 9.8 percent to $6.3 billion) showed solid growth.

Exports to the Middle East (up 13.6 percent to $1.8 billion) maintained growth for two months running and those to Japan (up 2.2 percent to $2.2 billion) and the CIS (up 30.1 percent to $1.1 billion) resumed their upward trajectory.