Ministry of Trade Industry and Resources

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that in September 2026, Korea’s exports rose 83.5 percent year-on-year to USD 120.94 billion. Imports increased 26.0 percent to $71.09 billion, resulting in a trade surplus of $49.85 billion.

September exports rose 83.5 percent to $120.9 billion, exceeding $120.0 billion for the first time. Cumulative exports from January to September 2026 reached $814.5 billion, surpassing the 2025 annual record of $709.3 billion. Semiconductor exports rose 263 percent, while non-semiconductor exports increased 23 percent. Average daily exports, adjusted for working days, rose 105 percent to $5.63 billion, exceeding $5.0 billion for the first time.

By item, exports increased in 11 of Korea’s 20 key export items.

In IT, semiconductor exports rose 262.8 percent to $60.30 billion, exceeding $60.0 billion for the first time as memory demand continued to grow, with export volumes continuing to expand and contract prices maintaining their upward trend.

Computer exports rose 435.3 percent to $7.00 billion as adoption of agentic AI expanded and demand for AI infrastructure continued to grow. Wireless communication device exports increased 23.4 percent to $2.14 billion, marking 11 consecutive months of growth, supported by strong sales of premium models such as the Galaxy Z8 series and Galaxy S26 Ultra, as well as increased exports of components for iPhones.

Automobile exports edged down 5.5 percent to $6.05 billion, reflecting a base effect from the Chuseok holiday shifting from October in 2025 to September this year and weaker used-car exports. Average daily automobile exports, however, rose 5.5 percent. Ship exports rose 29.9 percent to $3.76 billion as deliveries of LNG carriers and very large gas carriers (VLGCs) increased.

Petroleum product exports rose 72.0 percent to $7.22 billion, while petrochemical exports increased 5.1 percent to $3.95 billion. The increases came as international oil prices rose sharply amid fewer vessel transits through the Strait of Hormuz and heightened shipping risks in the Red Sea. Export volumes, however, fell 6.9 percent for petroleum products and 19.1 percent for petrochemicals. Meanwhile, secondary battery exports rose 14.0 percent to $0.72 billion, marking a fifth consecutive month of growth as export volumes increased with the expansion of the ESS market and unit prices rose on higher mineral prices.

Steel exports posted modest growth of 3.3 percent to $2.24 billion despite tighter import restrictions in major markets, including U.S. tariffs and EU TRQs, as demand from AI data centers, particularly in the United States, increased. General machinery exports edged down 3.2 percent to $4.07 billion. Improving PMIs in the United States and China and increased investment in overseas factories supported higher exports of machinery parts and other items, but fewer working days and higher logistics costs weighed on overall exports.

Cosmetics exports rose 31.4 percent to $1.51 billion, reaching an all-time high as shipments increased across major markets, including China, the United States, ASEAN, and the EU.
Agricultural and fisheries product exports fell 4.7 percent to $1.11 billion. Exports of noodles, sauces, and other products remained strong, but factors such as fewer working days weighed on overall exports.

By destination, exports increased in six of Korea’s nine major markets.

Exports to China surged 122.7 percent to $26.01 billion, exceeding $20.0 billion for a fourth consecutive month. Although exports of some items, including petrochemicals, remained weak, growth was led by semiconductors, wireless communication devices, and computers.

Exports to the United States jumped 137.0 percent to $24.33 billion, with major items such as semiconductors, petroleum products, and general machinery posting broad-based gains. Automobile exports also increased, supported by stronger U.S. demand and the launch of new models. 

Exports to ASEAN climbed 92.6 percent to $21.29 billion, exceeding $20.0 billion for the first time as major items, including semiconductors, petroleum products, and ships, recorded broad-based gains. Exports to the EU rose 20.9 percent to $8.65 billion, marking the tenth consecutive month of growth as exports of several items, including semiconductors, automobiles, and petroleum products, remained strong.

Exports to the Middle East fell 14.1 percent to $1.60 billion as difficulties with vessel passage through the Strait of Hormuz weighed on exports of most major items, including automobiles, automobile parts, and general machinery.

In imports, energy imports increased 38.0 percent to $12.96 billion, while non-energy imports rose 23.6 percent to $58.13 billion. Crude oil import volumes rose 2.0 percent and import prices increased 35.7 percent, lifting crude oil imports by value 38.4 percent to $8.00 billion. Among non-energy imports, imports of semiconductor equipment rose 50.8 percent to $3.44 billion, while imports of wireless communication devices increased 27.3 percent to $2.01 billion.

The trade surplus reached $49.85 billion, up $40.37 billion from a year earlier and exceeding $40.0 billion for the first time. The cumulative trade surplus from January to September 2026 reached $252.5 billion, up $202.7 billion from the same period last year.

Minister Kim said, “September exports exceeded $120 billion for the first time, while cumulative exports from January to September topped $800 billion, surpassing last year’s record of $709.3 billion within the first nine months of the year.” He added, “This is a meaningful achievement that once again demonstrates the strength of Korean industry and businesses, made possible by the hard work and dedication of Korean businesspeople competing in global markets.”

Minister Kim also noted that annual exports are now expected to reach $1 trillion, but rising global protectionism and tensions in the Middle East remain major sources of uncertainty for Korea’s exports. He added that the government will maintain high-level channels with trade authorities in major economies and closely monitor developments in export restrictions. The government will also respond proactively to unexpected external factors to prevent them from adversely affecting Korean exports and sustain export momentum through the fourth quarter.