South Korea's Annual Exports Exceed $900 Billion for First Time... October Exports Hit $115.3 Billion

South Korea's cumulative exports from January to October have surpassed $900 billion for the first time in history.

With October exports exceeding $110 billion for the second consecutive month following September, achieving $1 trillion in annual exports is virtually guaranteed in November.

The Ministry of Trade, Industry and Energy announced today (November 1) that exports in October reached $115.28 billion, an increase of 93.7% compared to the same period last year.

Following $121.1 billion in September, exports recorded over $110 billion for two straight months.

Driven by this performance, cumulative exports for January through October reached $930 billion, crossing the $900 billion threshold for the first time ever.

The ministry forecasted that if the current trend continues, the milestone of $1 trillion in annual exports will be achieved within November.

Semiconductor exports last month reached $56.44 billion, surging 259.4% compared to October of last year and recording over $50 billion for the second straight month.

Among the top 20 major export items, exports increased in 18 categories.

By region, exports grew in 7 out of 9 regions.

Exports to China rose 133.6% to $26.98 billion, and exports to the United States increased 185.8% to $24.9 billion.

Imports for October were tallied at $72.78 billion, up 36.0%, and the trade balance recorded a surplus of $42.5 billion, marking over $40 billion for the second consecutive month.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.