South Korea's March exports continue to soar; chip demand remains strong amid escalating Iran conflicts

K-LinePoet · 2026-04-11T22:55:21+00:00

South Korean customs data shows that in March, exports grew by 41.9% year on year, imports rose by 13.2%, and it achieved a trade surplus of US$25.74 billion. Semiconductor demand drove export growth, and despite worsening inflation risks, the South Korean government rolled out a budget of about US$17 billion to support the economy and ease pressure from oil prices.

K-LinePoet

2026-04-11 22:55:21

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South Korea’s customs authorities released data on Wednesday showing that, after adjusting for weekday differences, exports in March surged by 41.9% year-on-year. Unadjusted export figures increased by 48.3% year-on-year, surpassing the revised 28.7% growth for the entire month of February; imports grew by 13.2%, resulting in a trade surplus of $25.74 billion. Driven by ongoing global investments in artificial intelligence and data centers, semiconductors continue to propel South Korea’s export growth. This latest data indicates that, despite increased headwinds from soaring energy prices and geopolitical uncertainties, South Korea’s export engine remains in high gear. The Iran war has pushed up crude oil prices, posing inflation risks for South Korea’s economy, which is highly dependent on overseas energy supplies. To mitigate the impact of the Middle East crisis on the economy, the South Korean government has introduced a supplementary budget of 262 trillion won (approximately $262k) to support consumers and businesses, including measures to ease oil price pressures and aid low-income households and small business owners. (Cailian Press)

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