South Korea's Exports Surpass Japan's, Ranking 5th in the World

South Korea ranked fifth in global exports in the first quarter, overtaking Japan for the first time on a quarterly basis.
According to the Ministry of Trade, Industry and Energy on the 6th, Japan's exports in the first quarter rose 7.2% from a year earlier to $189.5 billion. That was $30.4 billion less than South Korea's $219.9 billion in exports during the same period.
Semiconductors were the key driver behind South Korea's export growth. As investment in Artificial Intelligence Server expanded and memory prices rose, semiconductor exports surged 139% to $78.5 billion. DRAM jumped 249.1% to $35.79 billion, NAND flash memory rose 377.5% to $5.39 billion, and System Semiconductor exports increased 13.5% to $12.11 billion.
Other strong performers included computers, up 169% to $7.5 billion; wireless communications, up 40% to $5.3 billion; petroleum products, up 24% to $13.2 billion; and ships, up 14% to $8.2 billion.
Consumer goods exports also stood out, supported by the spread of the Korean Wave. Cosmetics exports rose 21.5% to $3.13 billion on stronger demand for K-beauty, while agricultural and fisheries products increased 7.4% to $3.11 billion as awareness of K-food grew. Secondary battery exports climbed 9.9% to $1.96 billion, driven by strong shipments of lithium-ion batteries. By contrast, automobile exports fell 0.3% to $17.2 billion, weighed down by a decline in passenger car shipments.
The trade balance posted a surplus of $50.4 billion, a sharp improvement of $43.7 billion from $6.69 billion a year earlier.
leeyb@fnnews.com Lee Yu-beom Reporter