Korea's monthly exports top $80 bil. mark for 1st time in March

Containers piled up at Pyeongtaek Port, Gyeonggi Province, March 12 / Yonhap

Korea's monthly exports breached the $80 billion mark for the first time ever in March, jumping nearly 50 percent from a year earlier on the back of record shipments of semiconductors, government data showed Wednesday.

Outbound shipments totaled $86.13 billion last month, up 48.3 percent on-year, according to the data compiled by the Ministry of Trade, Industry and Resources.

The reading also marks a sharp increase from the previous monthly high of $69.5 billion posted December 2025.

Imports rose 13.2 percent on-year to $60.4 billion in March, resulting in a trade surplus of $25.74 billion.

Semiconductor exports spiked 151.4 percent on-year to an all-time high of $32.83 billion last month, breaching the $30 billion mark for the first time ever.

The ministry attributed the strong performance of the chip sector to high memory chip prices and continued global demand fueled by massive investments in artificial intelligence (AI) data centers.

Car exports gained 2.2 percent 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 surged 54.9 percent to $5.1 billion in March as their prices sharply rose in line with a hike in global oil prices sparked by the Iran war.

However, after the government imposed export restrictions on fuel items, such as gasoline and diesel, on March 13, shipments of gasoline and diesel dropped by 5 percent and 11 percent, respectively, from the same period last year, the ministry said.

By destination, exports to China escalated 64 percent on-year to $16.5 billion last month, rising for the fifth straight month, thanks to robust demand for semiconductors, petrochemical products, machinery and computers.

Exports to the United States advanced 47.1 percent to $16.34 billion, driven by strong demand for chips and computers.

Shipments to the Association of Southeast Asian Nations (ASEAN) expanded 34.3 percent to $13.75 billion, while shipments to the European Union went up 19.3 percent to $7.47 billion.

Exports to the Middle East, however, tumbled 49.1 percent on-year to $900 million, apparently due to the ongoing conflict in the region.