SEOUL — South Korea's exports nearly doubled in October from a year earlier, beating market expectations and marking the sharpest jump in more than 50 years, trade data showed on Sunday, Reuters reported. Exports from Asia's fourth-largest economy, a bellwether for global trade, rose 93.7% last month to a preliminary $115.28 billion — slightly higher than the 93.2% median rise forecast in a Reuters poll of economists, and the second-largest monthly figure on record after September, according to the Ministry of Trade, Industry and Energy figures reported by the Seoul Economic Daily.

Source: Reuters, reporting South Korea's trade ministry data from Seoul, November 1, 2026

The surge was boosted by favourable calendar effects — more working days than a year earlier because of the timing difference in the local Chuseok holidays — and it beat September's 83.7% gain; it was the strongest annual increase since January 1974. Average daily exports, which adjust for working days, still rose 76% from a year earlier to $5.24 billion, staying above $5 billion for a second straight month. Yaani: on an average working day in October, more than $5 billion worth of goods left South Korea — roughly the cost of a mid-size power plant, every single day.

Source: Seoul Economic Daily, reporting the Ministry of Trade, Industry and Energy release, November 1, 2026

+93.7%October exports year-on-year, to $115.28 billion — strongest since January 1974 (trade ministry via Reuters)
$56.44 billionSemiconductor exports in October, up 259.4% — above $50 billion for a second straight month
+496.6%Computer exports, on AI server demand, the trade ministry said
$42.50 billionOctober trade surplus; imports rose 36.0% to $72.78 billion, the biggest import rise since January 2022

Chips are carrying the year

Overseas sales of semiconductors jumped 259.4% in October to $56.44 billion, as prices and volumes stayed high on continued facility investment by global big tech firms competing for leadership in artificial intelligence, the trade ministry said. Computer sales surged 496.6% on increasing server demand for AI services. Riding the global AI investment boom, South Korea's economy grew faster than expected in the third quarter on strong semiconductor exports and investment, with chipmakers Samsung Electronics and SK Hynix posting surging profits, Reuters noted.

Source: Reuters, reporting South Korea's trade ministry data from Seoul, November 1, 2026

Exports rose in seven of South Korea's nine major markets, the Seoul Economic Daily reported, and exports to the United States rose 185.8% to $24.9 billion, lifted by AI-related items such as semiconductors, computers and electrical equipment alongside autos and steel. Imports rose 36.0% to $72.78 billion — the biggest annual increase since January 2022 — on higher crude oil prices as well as demand for semiconductor manufacturing equipment and automobiles, leaving a monthly surplus of $42.50 billion, narrower than September's record $49.97 billion.

Source: Seoul Economic Daily, reporting the Ministry of Trade, Industry and Energy release, November 1, 2026

A $1 trillion year is now in sight

Cumulative exports for January through October climbed 60.6% from a year earlier to $930 billion, surpassing $900 billion for the first time and leaving $70 billion to reach $1 trillion for the year. 'Exports maintained solid growth of more than $110 billion in October as well, making it all but certain that annual exports will reach $1 trillion in November,' Trade Minister Kim Jung-kwan said. Annual exports above $1 trillion would make South Korea only the fourth country in the world to reach the milestone, after the United States, China and Germany, Reuters reported.

Source: Reuters, reporting South Korea's trade ministry data from Seoul, November 1, 2026

What is solid

  • Exports rose 93.7% year-on-year in October to a preliminary $115.28 billion, the strongest annual jump since January 1974 (trade ministry data via Reuters and Seoul Economic Daily)
  • Semiconductor exports rose 259.4% to $56.44 billion and computer exports rose 496.6%, the ministry said
  • Imports rose 36.0% to $72.78 billion, for a $42.50 billion October surplus; January–October exports totalled $930 billion
  • Trade Minister Kim Jung-kwan said a $1 trillion export year is all but certain in November

What is only claimed

  • Part of the headline jump is a calendar effect — more working days than October last year because of Chuseok holiday timing; the working-day-adjusted rise was 76%, still very large but lower than 93.7%
  • The October figures are preliminary ministry data and can be revised in final releases