Seoul: South Korea's monthly exports surpassed the $80 billion threshold for the first time in March, marking a significant leap of nearly 50 percent from the previous year, driven by unprecedented semiconductor shipments, as revealed by government data on Wednesday. Outbound shipments reached $86.13 billion last month, representing a 48.3 percent year-on-year increase, according to the data compiled by the Ministry of Trade, Industry and Resources.
According to Yonhap News Agency, this figure also reflects a substantial rise from the previous record high of $69.5 billion set in December 2025. Imports increased by 13.2 percent year-on-year to $60.4 billion in March, resulting in a trade surplus of $25.74 billion. Semiconductor exports surged 151.4 percent year-on-year to a record $32.83 billion last month, exceeding the $30 billion mark for the first time.
The ministry attributed the robust performance of the chip sector to high memory chip prices and sustained global demand, spurred by massive investments in artificial intelligence (AI) data centers. Car exports rose 2.2 percent year-on-year to $6.37 billion, as strong demand for eco-friendly models, including electric vehicles (EVs) and hybrid cars, helped offset shipment disruptions caused by the Middle Eastern crisis.
Outbound shipments of petroleum products jumped 54.9 percent to $5.1 billion in March, correlating with a sharp rise in global oil prices triggered by the Iran war. However, after the government imposed export restrictions on fuel items like gasoline and diesel on March 13, shipments of gasoline and diesel fell by 5 percent and 11 percent, respectively, compared to the same period last year.
Petrochemical exports increased by 5.8 percent to $3.9 billion, although the volume of outbound shipments declined 17 percent year-on-year in the fourth week of March due to supply disruptions amid the Middle East crisis. Specifically, outbound shipments of naphtha contracted 22 percent year-on-year in March as the government restricted exports of the material, an industrial feedstock.
Computer exports soared 189.2 percent to a record $3.42 billion, and secondary battery exports rose 36 percent to $870 million. Exports of cosmetics and agro-fisheries products reached $1.19 billion and $1.18 billion, respectively, the highest for any March. By destination, exports to China climbed 64 percent year-on-year to $16.5 billion last month, rising for the fifth consecutive month, driven by strong demand for semiconductors, petrochemical products, machinery, and computers.
Exports to the United States increased 47.1 percent to $16.34 billion, fueled by strong demand for chips and computers. Shipments to the Association of Southeast Asian Nations (ASEAN) grew 34.3 percent to $13.75 billion, while shipments to the European Union rose 19.3 percent to $7.47 billion. However, exports to the Middle East fell 49.1 percent year-on-year to $900 million, likely due to the ongoing conflict in the region.
"Despite challenging external conditions, including the Middle Eastern war and the rise of trade protectionism, March exports hit $80 billion for the first time ever, supported by balanced growth in key export items, such as semiconductors, as well as consumer goods," Industry Minister Kim Jung-kwan stated in a press release. Kim emphasized that the government will continue efforts to stabilize supply chains and address difficulties faced by exporters amid the ongoing conflict in the Middle East.