Home > Business > Industry

Exports rebound to climb 4.3% on strong chip, auto shipments despite tariff turmoil

Published: 01 Jul. 2025, 17:18 Updated: 01 Jul. 2025, 17:21

Export cargo and vehicles are seen piled up at Pyeongtaek Port in Gyeonggi on July 1. [YONHAP]

Korea’s exports grew 4.3 percent in June compared to the same month last year, rebounding after a one-month dip despite the impact of U.S. tariff measures under the Donald Trump administration.

According to monthly trade data released by the Ministry of Trade, Industry and Energy on Tuesday, exports in June totaled $59.8 billion, the highest figure ever recorded for the month. Strong overseas sales of semiconductors and automobiles were the primary drivers.

Of Korea’s 15 key export categories, semiconductors led the way with $14.97 billion in outbound shipments, an 11.6 percent increase from a year earlier and the highest monthly figure on record. Semiconductor exports have now risen for four consecutive months, driven by increasing prices and demand for high-value products such as high bandwidth memory (HBM).

Automobile exports also hit a June record of $6.3 billion. While shipments to the United States fell due to tariffs, rising exports of EVs to the European Union and strong sales of used cars offset the decline.

Other notable gains included biohealth products, up 36.5 percent to $1.66 billion; ships, up 63.4 percent to $2.5 billion; computers, up 15.2 percent to $1.3 billion; and auto parts, up 2.4 percent to $1.8 billion. On the other hand, exports of petroleum products fell 2.0 percent to $3.62 billion and petrochemicals dropped 15.5 percent to $3.36 billion, due to weakening global oil prices.

By region, exports to the United States fell 0.5 percent year-on-year to $11.24 billion, and exports to China declined 2.7 percent to $10.42 billion. Exports to other regions rose: Shipments to Asean countries were up by 2.1 percent to $9.76 billion, to the EU by 14.7 percent to $5.8 billion, to India by 2.3 percent to $1.58 billion, to the Commonwealth of Independent States by 18.5 percent to $1.1 billion, to Central and South America by 3.3 percent to $2.4 billion, to Japan by 3 percent to $2.5 billion, to the Middle East by 14.8 percent to $1.9 billion and to Taiwan by 31 percent to $4.34 billion.

Cars for export are parked at the Pyeongtaek Port in Gyeonggi on July 1. [YONHAP]

Imports in June rose 3.3 percent year-on-year to $50.72 billion. Energy imports, including crude oil and gas, fell 14.7 percent to $8.55 billion, while nonenergy imports such as semiconductor equipment rose 7.9 percent to $42.17 billion. The trade surplus stood at $9.08 billion — the largest since September 2018 — extending the surplus streak that began in June 2023.

Exports in the first half of 2025 totaled $334.7 billion, virtually unchanged from the same period last year, with just a 0.03 percent decline. Semiconductor exports in the first half rose 11.4 percent to $73.3 billion — the highest ever for the period — as demand for high-value chips like HBM and DDR5, along with rising memory prices, supported growth.

In contrast, automobile exports dropped 1.7 percent to $36.4 billion, weighed down by U.S. tariffs and increased local production despite strong shipments of hybrid vehicles. By region, exports to the United States in the first half fell 3.7 percent to $62.2 billion and exports to China fell 4.6 percent to $60.5 billion.

Imports in the first half of 2025 dropped 1.6 percent compared to the year prior to $306.9 billion. The trade surplus for the first half reached $27.8 billion, up $4.8 billion from a year earlier.

“Despite uncertainties such as U.S. tariff actions, a global economic slowdown and instability in the Middle East, exports in the first half held steady compared to last year,” said Industry Minister Ahn Duk-geun.

“In June, the first full month under the new administration, exports rebounded to reach the highest-ever figure for the month. The government will fully mobilize efforts to negotiate with the United States, expand trade finance and swiftly roll out support measures to identify new export markets.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY JEONG JAE-HONG [[email protected]]