April Exports Hit Record $50.4 Billion

South Korea's exports reached $50.4 billion from April 1 to 20, setting a new all-time record. This represents a 49.4% increase compared to the same period last year.

The surge was particularly notable in computer storage devices such as Solid State Drives (SSDs), which saw a remarkable 399% jump in exports, largely driven by the expansion of AI server infrastructure. This strong export performance demonstrates the successful adaptation of South Korea's Information and Communication Technology (ICT) sector to a changing market that prioritizes technological prowess beyond mere volume.

Semiconductors, the largest export item, contributed $18.3 billion in April, an increase of 183% year-on-year, accounting for 36.3% of total exports.

Amid geopolitical tensions in the Middle East and a subsequent spike in global oil prices, import values for crude oil and energy showed an increasing trend. Crude oil imports recorded $4.8 billion from April 1 to 20, marking the third consecutive month of increase after $4.3 billion in January, $4.4 billion in February, and $4.6 billion in March. The rising international oil prices due to potential conflict between the U.S. and Iran led to respective increases of 13.1% and 6.8% in crude oil and energy import values.