S. Korea's export hit all-time high for January
Xinhua
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SEOUL, Feb. 1 (Xinhua) -- South Korea's export hit an all-time high for January thanks to surging demand for locally-made semiconductors and automobiles, government data showed Sunday.

Cranes, vehicles and shipping containers are seen at a port in Pyeongtaek, South Korea, on April 24, 2025. (Photo: AP)

Export, which accounts for about half of the export-driven economy, soared 33.9 percent to 65.85 billion US dollars in January, surpassing all previous records for the month, according to the Ministry of Trade, Industry and Resources.

The daily average export gained 14.0 percent to 2.80 billion dollars, a record performance for the month of January.

Import grew 11.7 percent to 57.11 billion dollars in January compared to the same month of last year, sending the trade surplus to 8.74 billion dollars.

Of the country's 15 major export items, 13 products saw a growth in outbound shipment.

Semiconductor export more than doubled to 20.54 billion dollars, marking a record high for any January.

The surging chip shipment was driven by soaring demand for memory chips used in artificial intelligence (AI) chipset.

Display panel export jumped 26.1 percent to 1.38 billion dollars on higher TV demand, and mobile phone shipment spiked 66.9 percent to 2.03 billion dollars.

Computer shipment mounted 89.2 percent to 1.55 billion dollars due to higher demand for solid state drives (SSDs), affected by the expanded demand for AI infrastructure.

Automotive export advanced 21.7 percent to 6.07 billion dollars owing to robust demand for eco-friendly vehicles, and auto parts shipment rose 3.9 percent to 1.63 billion dollars.

General machinery shipment increased 8.6 percent to 3.71 billion dollars, but export for ships shrank 0.4 percent to 2.47 billion dollars.

Export for oil products grew 8.5 percent to 3.74 billion dollars on higher refinery utilization rates, but petrochemicals export declined 1.5 percent to 3.52 billion dollars on the back of global supply glut.

Shipment for steel products, home appliances, textiles, and secondary batteries rose in single figures to 2.63 billon dollars, 560 million dollars, 770 million dollars, and 550 million dollars each.

Export to the United States surged 29.5 percent to 12.02 billion dollars last month thanks to soaring chip demand that offset the negative effect of the U.S. tariff imposition.

Shipment to the Association of Southeast Asian Nations (ASEAN) swelled 40.7 percent to 12.11 billion dollars, while export to the European Union (EU) gained 6.9 percent to 5.39 billion dollars.

Export to Japan diminished 4.7 percent to 2.25 billion dollars, but those to Latin America, India and the Middle East expanded in double digits to 2.43 billion dollars, 1.68 billion dollars and 1.57 billion dollars each.

Regarding import items, the import of three major energy sources, including crude oil, natural gas and coal, dipped 11.9 percent to 10.03 billion dollars last month.

Non-energy import expanded 18.4 percent to 47.08 billion dollars on robust demand for semiconductor equipment, semiconductors, mobile phones and cars.