SEOUL, Oct. 1 (Xinhua) -- South Korea's exports hit a record high in September, topping 120 billion U.S. dollars for the first time thanks to a record-breaking global demand for artificial intelligence (AI) semiconductors, government data showed Thursday.
The outbound shipments, which account for about half of the export-led economy, soared 83.5 percent from a year earlier to 120.94 billion dollars in September, according to the Ministry of Trade, Industry and Resources.
For the first nine months of this year, cumulative exports reached 814.5 billion dollars, overtaking last year's record-setting annual performance of 709.3 billion dollars.
The daily average exports spiked 105 percent to 5.63 billion dollars, surpassing 5 billion dollars for the first time.
Imports grew 26.0 percent to 71.09 billion dollars last month, sending the trade surplus to an all-time high of 49.85 billion dollars.
Of the country's 20 major export items, 11 products saw growth in outbound shipments.
Semiconductor exports skyrocketed 262.8 percent to 60.30 billion dollars, crossing 60 billion dollars for the first time.
The milestone was attributed to the continuous expansion of AI infrastructure investments that led to price hikes in memory chips.
Computer exports surged 435.3 percent to 7.00 billion dollars, boosted by solid demand for solid-state drives (SSDs) used in AI infrastructure.
Mobile phone shipments mounted 23.4 percent to 2.14 billion dollars, extending its growth streak to 11 months due to strong demand for premium smartphones, while display panel exports retreated in single digits.
Automotive exports declined 5.5 percent to 6.05 billion dollars, impacted by the shift of Chuseok holidays, the South Korean version of Thanksgiving Day, while auto parts shipments fell in single figures.
Exports for ships jumped 29.9 percent to 3.76 billion dollars, driven by higher deliveries of high-value ships including liquefied natural gas (LNG) tankers and very large gas carriers (VLGCs).
Shipments of oil products soared 72.0 percent to 7.22 billion dollars, and petrochemicals exports rose 5.1 percent to 3.95 billion dollars as geopolitical risks in the Red Sea and the Strait of Hormuz pushed up global oil prices despite a drop in shipment volumes.
Dubai crude, South Korea's benchmark, averaged 113.7 dollars per barrel in September, up 62.4 percent from a year earlier.
Rechargeable battery exports advanced 14.0 percent to 720 million dollars, marking five straight months of gains on the back of higher mineral prices and a booming energy storage system (ESS) market.
Steel products shipments swelled 3.3 percent to 2.24 billion dollars on strong U.S. demand for steel sheets used for AI data center construction, but general machinery exports shrank 3.2 percent to 4.07 billion dollars owing to fewer working days and rising logistics costs.
Cosmetics shipments spiked 31.4 percent to 1.51 billion dollars, but farm goods exports retreated 4.7 percent to 1.11 billion dollars.
Exports to the United States shot up 137.0 percent to 24.33 billion dollars as a result of robust demand for chips, oil products, machinery and new vehicle models.
Shipments to the Association of Southeast Asian Nations (ASEAN) jumped 92.6 percent to 21.29 billion dollars, while exports to the European Union (EU) picked up 20.9 percent to 8.65 billion dollars.
Regarding import items, the import of three major energy sources, including crude oil, natural gas and coal, gained 38.0 percent to 12.96 billion dollars last month.
Non-energy imports mounted 23.6 percent to 58.13 billion dollars on strong demand for semiconductor equipment and mobile devices. ■