South Korea’s Q3 exports hit record $185 billion

Outbound shipments during the July–September period totalled US$185 billion, a 6.5 percent rise compared to the same period last year, announced the Ministry of Data and Statistics. This represents the largest quarterly export figure since the ministry began tracking data in 2010, as reported by Yonhap News Agency.

Semiconductors lead capital goods surge

Exports of capital goods, led by the semiconductor sector, increased by 11.2 per cent year-on-year to US$111 billion, emphasising the vital role of chip manufacturing in boosting Korea’s trade performance.

Meanwhile, consumer goods exports, led by automobiles, rose by 4.9 per cent to US$23.9 billion, ending four consecutive quarters of decline. Analysts say global demand for electric vehicles and advanced chips continues to bolster the country’s export resilience.

Exporting companies on the rise

The number of Korean companies involved in exports rose by 4.5 per cent year-on-year, reaching 69,808 firms in the third quarter. Officials credited the growth to the government’s efforts to expand trade networks and enhance competitiveness in key technology sectors.

Sustained growth momentum

The third-quarter growth signifies the second consecutive quarter of export expansion, following a 2.1 per cent rise in the previous quarter, reaffirming Korea’s position as a global manufacturing and technology leader.

Economists note that consistent demand for chips, electric vehicles, and advanced manufacturing parts is expected to sustain export growth until the end of 2025, despite global economic uncertainties.