SEOUL: South Korea's exports surged by 8.2 percent in 2024, reaching a record annual high, driven by strong semiconductor shipments. The significant increase in exports marked a new milestone for the country's trade performance, data revealed on Wednesday.

According to Yonhap News Agency, South Korea's outbound shipments totaled $683.8 billion in 2024, surpassing the previous record of $683.6 billion set in 2022. This growth came despite a decline in imports, which fell 1.6 percent year-on-year to $632 billion, leading to a trade surplus of $51.8 billion.

In December alone, exports climbed 6.6 percent year-on-year to $61.38 billion, marking the 15th consecutive month of growth. Imports for the month increased by 3.3 percent year-on-year to $54.8 billion, resulting in a trade surplus of $6.49 billion. South Korea has maintained a trade surplus for 19 consecutive months, highlighting the resilience of its export-driven economy.

The data was compiled by the Ministry of Trade, Industry and Energy, underscoring the pivotal role of semiconductors in propelling South Korea's economic performance. The sustained growth in exports and trade surplus reflects the country's strong presence in the global semiconductor market and its ability to navigate challenging economic conditions.