South Korea exports hit $85.89 billion in April, chip surge drives 48% on-year jump
Synopsis
South Korea posted its second-highest monthly export figure ever in April at $85.89 billion, with chip shipments alone hitting $31.9 billion — a 173.5% on-year spike — as AI semiconductor demand and rising memory prices fuel a full-blown supercycle. Computer exports also hit an all-time monthly high, surging over 515%.
Key Takeaways
South Korea's April exports totalled $85.89 billion , up 48 percent on-year — the second-highest monthly figure ever.
Chip exports hit $31.9 billion , surging 173.5 percent on-year — the highest-ever for any April — on AI semiconductor demand and rising memory prices.
Computer exports surged 515.8 percent to $4.08 billion , also an all-time monthly high, driven by solid-state drive demand.
The trade surplus reached $23.77 billion — the second consecutive month above the $20 billion mark.
Auto exports fell 5.5 percent to $6.17 billion amid Middle East shipping disruptions and US tariff-driven production shifts.
Petroleum product export volumes dropped sharply after Seoul imposed export restrictions in mid-March to stabilise domestic fuel prices.
South Korea's exports exceeded $80 billion for the second consecutive month in April, with outbound shipments totalling $85.89 billion — a 48 percent jump on-year — driven by a historic surge in semiconductor demand, according to data released by the Ministry of Trade, Industry and Resources on Friday, 1 May. The figure marks the second-highest monthly export total in the country's history.
Record Numbers Across the Board
The April tally trails only the all-time high of $86.6 billion recorded in March, making it the second consecutive month South Korea has posted exports above the $80 billion threshold. Imports rose 16.7 percent on-year to $62.11 billion, resulting in a trade surplus of $23.77 billion — the second straight month the country has logged a monthly surplus exceeding $20 billion.
Semiconductor Supercycle Powers the Surge
The Ministry of Trade, Industry and Resources largely attributed the export boom to a semiconductor supercycle. Chip exports amounted to $31.9 billion in April, spiking 173.5 percent from a year earlier — the highest-ever figure for any April — on the back of persistent demand for artificial intelligence (AI) semiconductors and a continued rise in memory chip prices. Computer exports followed suit, surging 515.8 percent to $4.08 billion, also the highest monthly figure ever recorded, as global demand for solid-state drives expanded in line with AI sector growth.
Petroleum, Cosmetics and Other Sectors
Exports of petroleum products soared 39.9 percent on-year to $5.11 billion, despite a significant decline in shipment volumes, as oil prices surged amid the ongoing conflict in the Middle East. Notably, the volume of outbound shipments of gasoline, diesel, and kerosene declined by 43 percent, 23.2 percent, and 99.9 percent, respectively, after the Seoul government implemented export restrictions on such items in mid-March to stabilise the domestic fuel market.
Shipments of electrical equipment, cosmetics, and agro-fisheries products expanded 7.6 percent, 33.4 percent, and 8.8 percent on-year to $1.57 billion, $1.37 billion, and $1.22 billion, respectively — all reaching record figures for any April.
Auto Exports Buck the Trend
Not all sectors shared in the gains. Auto exports dropped 5.5 percent to $6.17 billion in April, reportedly due to shipping disruptions linked to the Middle East crisis and Korean carmakers' expansion of production facilities in the United States in response to Washington's tariff policies, according to the ministry. This marks a notable divergence from the otherwise broad-based export strength and signals that geopolitical and trade policy pressures continue to reshape supply chains. With the semiconductor supercycle showing no signs of abating and AI-driven demand for memory chips and storage devices still accelerating, South Korea's export trajectory will be closely watched in the months ahead.
Point of View
The auto sector's decline signals a structural shift: Korean carmakers are quietly relocating production to the US to pre-empt tariffs, which will hollow out domestic export volumes over time even as headline numbers look strong. The real question is whether Seoul can diversify its export base before the semiconductor wave crests.
NationPress
1 May 2026
Frequently Asked Questions
How much did South Korea export in April 2024?
South Korea's exports totalled $85.89 billion in April, a 48 percent increase on-year. This is the second-highest monthly export figure in the country's history, just below the all-time high of $86.6 billion set in March.
Why did South Korea's exports surge in April?
The Ministry of Trade, Industry and Resources attributed the surge primarily to a semiconductor supercycle, with chip exports jumping 173.5 percent on-year to $31.9 billion. Persistent demand for AI semiconductors and rising memory chip prices were the key drivers.
What was South Korea's trade surplus in April 2024?
South Korea recorded a trade surplus of $23.77 billion in April, the second consecutive month it has posted a surplus exceeding $20 billion. Imports rose 16.7 percent on-year to $62.11 billion.
Why did South Korea's auto exports fall in April?
Auto exports dropped 5.5 percent to $6.17 billion, reportedly due to shipping disruptions caused by the Middle East conflict and Korean carmakers expanding production in the United States in response to Washington's tariff policies.
Why did South Korea restrict petroleum product exports?
The Seoul government implemented export restrictions on gasoline, diesel, and kerosene in mid-March to stabilise the domestic fuel market. Despite the volume decline, petroleum export values still rose 39.9 percent on-year to $5.11 billion as global oil prices surged amid the Middle East conflict.
