Economists project outbound shipments will post their seventeenth consecutive month of expansion, driven by strong deliveries of semiconductors, automobiles, and computers. This trade surge helped push gross domestic product up by 1.0 percent in the third quarter. In tandem with soaring exports, inbound shipments are also anticipated to rise by 39.9 percent, yielding a substantial trade surplus of $37.24 billion. Official numbers scheduled for release on November 1 will confirm the final trade performance.
Key points
AI-driven semiconductor demand and memory pricing remain the core engines fueling South K…: AI-driven semiconductor demand and memory pricing remain the core engines fueling South Korea's trade boom.
Calendar distortions from the Chuseok holidays added two working days compared to October…: Calendar distortions from the Chuseok holidays added two working days compared to October of last year.
The country is positioned to generate an estimated monthly trade surplus exceeding $37 bi…: The country is positioned to generate an estimated monthly trade surplus exceeding $37 billion.
Sources checked by our analysis pipeline: 1
SEOUL, Oct 29 : South Korea's export growth likely accelerated to its fastest pace in more than 50 years in October, a Reuters poll showed on Thursday, driven by robust demand for AI investment-related semiconductors and higher memory chip prices.
Exports from Asia's fourth-largest economy, a bellwether for global trade, were forecast to have risen 93.2 per cent this month from a year earlier, up from an 83.7 per cent increase in September, the median estimate of nine economists surveyed by Reuters showed.
If realised, it would mark a 17th straight month of export growth and the strongest increase since January 1974. South Korea's exports exceeded $800 billion in the first nine months of the year, already surpassing last year's full-year record.
The AI-driven chip boom has continued to fuel the economy. South Korea's gross domestic product grew 1.0 per cent in the third quarter, beating expectations, while chip manufacturer SK Hynix reported a more than seven-fold jump in quarterly profit.
Economists attributed the export growth to robust semiconductor demand tied to AI investment and firmer memory chip prices, but…
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