Exports in August reached USD 98.25 billion, the third straight month that they surpassed USD 90 billion, the Ministry of Trade, Industry and Resources said on Sept. 1 in a monthly report. Shown are containers piled high and read for shipping at Pier 3 of Busan New Port. (Busan Port Authority)

By Yoon Sojung

Exports last month reached USD 98.25 billion thanks to record semiconductor sales, the third consecutive month for such shipments to exceed USD 90 billion.

In its monthly report on exports and imports, the Ministry of Trade, Industry and Resources on Sept. 1 said overseas shipments last month surged 68.7% year to USD 98.25 billion. Imports rose 22.5% to USD 63.51 billion, leading to a trade surplus of USD 34.75 billion.

Fourteen of the country's top 20 export items led growth.

Semiconductors were the leading driver thanks to sustained demand for artificial intelligence infrastructure, with exports skyrocketing 209% to an August record USD 46.65 billion. Computers (USD 6.24 billion) also set an all-time high thanks to rising prices for NAND flash memory.

Other items with strong growth included wireless communication devices, petroleum products, petrochemicals and secondary batteries.

Backed by the global popularity of domestic beauty and cuisine, exports of biohealth (USD 1.41 billion), cosmetics (USD 1.31 billion), and agriculture, fishery and food (USD 980 million) also broke August records. Those of cars, however, fell 29.8% to USD 3.89 billion.

By region, exports increased in seven of Korea's nine major markets except for the Middle East and the Commonwealth of Independent States. Those to China shot up 119.3% to USD 24.1 billion, their third consecutive month of exceeding USD 20 billion, while those to the U.S. rose 89.3% to USD 16.5 billion thanks to strong demand for chips and computers.

Exports to Southeast Asia (USD 19.09 billion) and the European Union (USD 6.62 billion) also maintained growth.

Minister of Trade, Industry and Resources Kim Jung-Kwan said, "Amid the strong semiconductor market, non-semiconductor items are also showing high growth in the 20% range, showing the gradual expansion of the export base."

arete@korea.kr