South Korea’s exports surged 83.5% year-on-year (YoY) in September to a record monthly high, smashing market expectations as booming artificial intelligence investment drove semiconductor shipments to an all-time peak.
The increase far exceeded forecasts for 62% growth and marked the country’s 16th consecutive month of export expansion, Reuters reported as per the customs data released on Oct 1.
On a working-day adjusted basis, exports jumped an even stronger 104.9% from a year earlier, underscoring the strength of overseas demand.
The export boom was anchored by record semiconductor shipments, as South Korea’s chipmakers continued to benefit from heavy global spending on artificial intelligence infrastructure and computing capacity.
Imports, meanwhile, increased 26% YoY, also exceeding market expectations of a 21.5% rise.
The stronger export performance widened South Korea’s provisional trade surplus to US$49.85 billion in September, up sharply from US$34.79 billion in August.
