South Korea exports nearly double in October as chip sales jump 259%

The numbers. According to figures reported by Reuters and Newsis, October exports were $115.28 billion, up 93.7% from October last year. Economists polled by Reuters expected 93.2%. Imports rose 36.0% to $72.78 billion. The trade surplus was $42.5 billion, smaller than September's record $49.97 billion. Newsis says this is the second-largest monthly export total on record, after September.

What is driving it. Semiconductor exports rose 259.4% to $56.44 billion and stayed above $50 billion for a second month. The ministry links this to high prices and volumes as global tech giants keep investing in the race for AI leadership. Computer exports jumped 496.6% on demand for AI servers. Newsis reports that 18 of the 20 main export items grew.

The calendar effect. Reuters notes the growth was boosted by more working days, because the Chuseok holiday fell in October last year but not this year. On a daily average basis, exports rose 76% to $5.24 billion a day. That is still a very strong result.

The year so far. From January to October, Korea exported $930 billion, the first time the total for this period has topped $900 billion. The cumulative trade surplus is $294.9 billion. About $70 billion is left to reach $1 trillion for the year, and at the current pace that could happen in November. This is our estimate, the sources give no official forecast.

Fatos confirmados

• South Korea's October exports rose 93.7% from a year earlier to $115.28 billion.^[1][2]
• It was the fastest growth since January 1974; economists in a Reuters poll expected 93.2%.^[1]
• Semiconductor exports rose 259.4% to $56.44 billion.^[1][2]
• Computer exports jumped 496.6% on demand for AI servers.^[1]
• Imports rose 36.0% to $72.78 billion; the trade surplus was $42.5 billion, down from a record $49.97 billion in September.^[1][2]
• Growth was boosted by a calendar effect: more working days because of the timing of the Chuseok holiday.^[1]
• Daily average exports rose 76% to $5.24 billion.^[2]
• January-October exports reached $930 billion, above $900 billion for the first time, with a cumulative surplus of $294.9 billion.^[2]

Implicações

• ConfirmadoDemand for AI chips stayed very strong in October.
• ConfirmadoPart of the record jump comes from the number of working days, not only from demand.
• Nossa leituraStrong Korean data supports the growth story for memory and chip makers, but markets already expect such numbers. This is our view.

Ainda não se sabe

• How much of the growth came from chip prices and how much from volumes
• How long the wave of AI hardware spending will last
• Whether Korea will pass $1 trillion in exports for the year in November

Quem é afetado

South Korea, Asia, World. Investors in tech and chip stocks, anyone following world trade

Fontes

1. Reuters (via Investing.com): South Korea exports nearly double in October, strongest growth since 1974 1 de novembro de 2026 · mídia
2. Newsis: 반도체 호황에 10월 수출 1153억弗 '역대 2위'…올해 9000억弗 돌파 1 de novembro de 2026 · mídia