South Korean exports were expected to extend their growth streak to 16 consecutive months in September, supported by strong demand for semiconductors as global investment in artificial intelligence continues to drive the technology sector.
A median forecast from 18 economists put September export growth at 62% from a year earlier, easing from the 68.7% increase recorded in August. The projected slowdown was largely attributed to fewer working days rather than a significant weakening in underlying demand.
September had 21.5 working days, compared with 24 a year earlier, because the Chuseok holiday fell in September this year but in October last year. Despite the calendar effect, exports during the first 20 days of September surged 78.3% year on year to a record level.
Semiconductor exports were particularly strong, jumping 259.4% during the first 20 days of the month. When adjusted for the number of working days, overall exports increased by an average of 89.8%, underscoring the continued strength of South Korea’s chip industry.
Economists said the semiconductor boom remains closely linked to expanding investments by major AI companies and data-centre operators. South Korea is a major supplier of memory chips used in AI computing systems, making its export performance an important indicator of global technology demand.
South Korean exports have been rising steadily since June 2025, with annual growth reaching double digits from December onward. Growth peaked at 70.4% in June, the strongest pace in nearly five decades.
Imports were also expected to remain strong, with economists forecasting a 21.5% increase in September following 22.4% growth in August. The trade surplus was projected to reach a record $38.15 billion, compared with $34.79 billion in August.
South Korea was scheduled to release its official September trade figures on Oct. 1. The data will provide a clearer picture of whether the strong semiconductor-led export momentum has continued as the global AI investment cycle expands.
