Driven by the semiconductor industry's strong performance, exports in mid-July reached a record high for the month.

According to the Korea Customs Service on the 21st, exports from July 1 to 20 totaled 54.9 billion dollars based on preliminary customs clearance figures.

This represents a 52.3% increase compared to the same period last year and marks the largest amount for this period on record.

It surpassed the previous record of 36.9 billion dollars set in 2024.

Despite the number of working days being 14.5, one day fewer than the previous year's 15.5 days, the average daily export volume surged 62.9% to reach 3.79 billion dollars.

▲ IT and semiconductor surge amid automobile decline

By major product categories, semiconductors drove the overall export growth explosively.

Semiconductor exports surged a massive 180.6% to reach 22.1 billion dollars, setting a new record high for mid-July.

Additionally, the share of semiconductors in total exports rose 18.4 percentage points to 40.3%.

The increase in semiconductor exports was driven by expanding demand for high-value-added memory products including SSDs for AI servers.

Computer peripheral exports also surged 231.9% boosted by the expansion of the AI server market, while petroleum products (33.4%), ships (70.8%), and wireless communication equipment (65.9%) also showed positive trends.

However, passenger vehicles (-10.6%) and automobile parts (-9.6%) showed somewhat sluggish performance.

▲ Exports to all major markets increase...Exports to China surge 94.1%

Exports by country showed increases across major markets.

Exports to China surged 94.1%, recording the highest growth rate.

This was followed by Vietnam with 82.4%, Taiwan with 41.8%, the United States with 39.6%, and the European Union with 30.3% increases respectively.

Among these, China, the United States, and Vietnam, the top three countries, accounted for 51.9% of total exports.

▲ Imports increased but trade surplus reached 12.2 billion dollars

During the same period, imports reached 42.7 billion dollars, a 20.0% increase from the previous year.

Semiconductor imports increased 54.9%, semiconductor manufacturing equipment rose 56.9%, crude oil increased 27.5%, and gas rose 27.9% respectively.

Energy imports including crude oil, gas, and coal also increased 27.4% compared to the same period last year.

By country, imports from major trading partners including China, the United States, the European Union, Japan, and Taiwan all increased, reflecting growing raw material and equipment imports due to expanded industrial production.

With exports significantly exceeding imports, the trade balance for mid-July achieved a large surplus of 12.2 billion dollars.

This strong export performance is interpreted as a further strengthening of a growth structure centered on semiconductors.

While positive factors such as expanding AI demand played a role, concerns about structural imbalances are growing due to simultaneously increasing dependence on specific industries and certain countries.