(LEAD) S. Korea's exports jump 49.4 pct in first 20 days of April on robust chip demand

Lead

South Korea's exports rose sharply in the first 20 days of April, driven by strong global demand for semiconductors, according to data from the Korea Customs Service released Tuesday. Outbound shipments surged 49.4 percent year-on-year to US$50.4 billion, marking the highest figure ever recorded for the April 1-20 period, the data showed.

Imports increased 17.7 percent on-year to $39.9 billion during the period, resulting in a trade surplus of $10.4 billion, according to the same report.

Coverage comparison

Two separate sets of customs data, both reported by Yonhap News Agency, provide a granular view of South Korea's trade performance this month. The first-20-days report, released on April 21, builds on an earlier snapshot from the first 10 days, which showed a 36.7 percent jump in exports. Both reports attribute the strong performance to semiconductor shipments, with the earlier period seeing a 152 percent surge in chip exports amid the global artificial intelligence (AI) boom.

The 20-day data also highlighted record monthly performance, with exports to China and the United States climbing sharply despite ongoing trade tensions.

Key claims

• Semiconductors were the main growth driver, with exports spiking 182.5 percent year-on-year to $18.3 billion in the April 1-20 period, according to Yonhap. In the first 10 days, chip exports surged 152 percent to $8.6 billion, accounting for 34 percent of total exports.
• Computer and related equipment exports soared 399 percent to $2.2 billion, while petroleum products rose 48.4 percent to $3.2 billion, ship exports climbed 76.6 percent to $1.8 billion, and steel gained 8.6 percent to $2.6 billion.
• Automobile exports fell 14.1 percent to $3.1 billion, and auto parts dropped 8.8 percent to $1.1 billion in the 20-day period. In the first 10 days, autos were down 6.7 percent and parts down 7.3 percent.
• By destination, exports to China rose 70.9 percent to $11.2 billion, to the U.S. climbed 51.7 percent to $9.3 billion, and shipments to Vietnam, the EU, and Japan increased 79.2 percent, 10.5 percent, and 40.7 percent, respectively.
• Crude oil imports gained 13.1 percent to $4.8 billion in the 20-day period, marking the third consecutive month of year-on-year increases, a trend attributed to rising international oil prices caused by the ongoing Middle Eastern crisis. The first-10-day data similarly showed crude oil imports up for a third straight month at $2.8 billion.

Perspectives

The strong export figures underscore South Korea's position as a key supplier of semiconductors, particularly high-bandwidth memory and advanced chips used in AI applications. The surge in chip exports is consistent with a global upswing in demand for AI-related hardware, as noted by Yonhap.

The contrasting declines in automobile exports suggest ongoing headwinds in the automotive sector, possibly reflecting supply-chain disruptions or slower demand in key markets, though the reports did not specify causes.

The rise in crude oil imports, driven by geopolitical tensions in the Middle East, highlights the impact of external factors on South Korea's trade balance and input costs.

Overall, the data points to a robust trade performance, with South Korea running a healthy surplus, but the sustainability of such growth may depend on continued global demand for chips and stable energy prices.