South Korea November Exports Rise 8.4% on Chip Demand

Sejong, South Korea — The nation's exports increased 8.4% year on year in November, the Ministry of Trade, Industry and Energy said on Monday.

Exports totaled $61.04 billion. Imports increased 1.2 percent to $51.30 billion. The trade surplus was $9.73 billion, up from $5.57 billion a year earlier.

Semiconductor exports rose 38.6 percent to $17.26 billion. Memory chip exports increased 60.5 percent, while system semiconductor exports declined 4.6 percent, according to the ministry.

Cumulative semiconductor exports for January through November totaled $152.6 billion, compared with the 2024 full-year total of $141.9 billion.

DDR4 8Gb fixed prices averaged $8.10 in November, up from $7.00 in October. DDR5 16Gb prices were $19.49, up from $8.70, according to ministry data.

Automobile exports rose 13.7 percent to $6.41 billion. Hybrid vehicle exports increased 43.4 percent, internal combustion vehicle exports rose 3.4 percent, and electric vehicle exports declined 1.2 percent.

Exports to China rose 6.9% to $12.07 billion. Exports to the United States fell 0.2% to $10.35 billion. Shipments to ASEAN increased 6.3% to $10.42 billion.

Steel exports to the United States fell 24.3% and general machinery exports dropped 18.4%.

Petroleum product exports declined 10.3% to $3.28 billion. Petrochemical exports fell 14.1% to $3.06 billion.

Energy imports dropped 18.4% to $8.72 billion. Dubai crude averaged $64.50 per barrel, down 11.2% year-on-year.

The figures are preliminary, based on customs data through November 30