South Korea September exports rise 83.5% y/y to monthly record

South Korea's exports soared by 83.5 percent year-on-year in September, reaching a record monthly high, according to customs data released on Thursday. The surge was primarily driven by semiconductor shipments, which benefited from increased global spending on artificial intelligence. Customs officials reported that outbound shipments exceeded market projections of an 82.0 percent increase, marking the 16th consecutive month of export growth for the country.

Average exports per working day surged by 104.9 percent compared to the previous year. The strong performance in semiconductors was instrumental in sustaining the overall export growth. Imports increased by 26.0 percent year-on-year, surpassing the 21.5 percent forecast, leading to a provisional trade surplus of $49.85 billion, up from $34.79 billion in August.