Semiconductor Exports Hit $41.01 Billion in July, Second Highest on Record

[Financial News] South Korea's semiconductor exports reached $41.01 billion in July, driven by the semiconductor supercycle. This marked the 16th consecutive month of record-high performance for the same month. Total exports came to $98.89 billion, up 62.8% from a year earlier and the second-highest monthly figure on record.
According to the "Import and Export Trends for July 2026" released by the Ministry of Trade, Industry and Energy (MOTIE) on the 1st, semiconductor exports, the country's flagship export item, rose 178.8% from a year earlier to $41.01 billion. They topped $40 billion for the second straight month.
Semiconductor exports were supported by a rebound in DRAM spot prices and continued strong sales of high-value memory products such as High Bandwidth Memory. Benefiting from the AI boom, semiconductors have maintained their status as a key export driver. The July figure was also the second-highest on record, following June's $44.8 billion.
Total exports in July rose 62.8% from a year earlier to $98.89 billion. Imports increased 26.5% to $68.56 billion, resulting in a trade surplus of $30.32 billion. Cumulative trade surplus through last month reached $168 billion, up $134.1 billion from a year earlier.
Exports rose in 19 of the 20 key export items, not just semiconductors. Automobile exports reached $6.24 billion and ship exports $3.29 billion, up 7% and 46.9%, respectively, on strong sales of eco-friendly vehicles and increased shipments of LNG carriers and tankers. Petroleum products and petrochemicals also extended their gains, with exports of $5.68 billion and $4.18 billion, respectively, supported by higher export prices amid rising oil and raw material costs.
By region, exports to China were the highest at $21.68 billion. They were followed by the United States at $17.43 billion, ASEAN at $18.8 billion, and the European Union at $9.38 billion.
Energy imports rose 50.1% to $14.48 billion, reflecting the prolonged United States-Iran War. Crude oil imports also increased 54.2% to $9.3 billion, adding to the burden of raw material costs.
Minister Kim Jung-kwan said, "July exports posted a strong performance in the 90-billion-dollar range even though it was early in the second half of the year." He added, "Exports are becoming more diversified, with strong semiconductor performance and 19 of the top 20 items posting gains."

[email protected] Lee Hae-ram Reporter