South Korea's exports continued their upward trajectory in November, marking the 14th straight month of year-on-year growth, driven largely by strong semiconductor sales. According to data from the Ministry of Trade, Industry, and Energy, the country's outbound shipments grew by 1.4% compared to the previous year, reaching a total of $56.3 billion. Meanwhile, imports decreased by 2.4% to $50.7 billion, resulting in a trade surplus of $5.61 billion. This represents the 18th consecutive month of positive trade balance for South Korea.

The semiconductor sector was the standout performer, with exports increasing by 30.8% to $12.5 billion, setting a record for November. This was also the fourth consecutive month in which South Korea recorded a new high for semiconductor exports. The Ministry attributed the growth to the demand for high-end semiconductor models, including high-bandwidth memory chips, which have been in high demand globally due to the growth of AI and data center infrastructure.

However, not all sectors shared in the positive performance. Exports of automobiles fell by 13.6% year-on-year to $5.6 billion, impacted by production disruptions following a strike by major auto parts manufacturers, as well as shipping delays due to adverse weather conditions. Petroleum exports dropped by 18.7%, and petrochemical exports also saw a decline of 5.6%, driven by lower global crude prices.

In contrast, South Korea's biohealth sector maintained a positive growth trend, with exports rising by 19.6% to $1.4 billion, continuing an uninterrupted growth streak for five months. The shipbuilding sector also performed well, with exports jumping 70.8% to $2.5 billion. On the downside, battery exports fell by 26.3% to $658 million, reflecting weaker global demand for electric vehicles.

Regionally, exports to China, South Korea's largest trading partner, dipped slightly by 0.6% to $11.28 billion, mainly due to reduced demand for mobile devices in China as a result of weaker consumer sentiment. Exports to the United States dropped by 5.1% to $10.39 billion, due to losses in the automotive and machinery sectors, although semiconductor exports remained strong due to heightened demand from the data center and cloud computing industries. Meanwhile, exports to Southeast Asia edged up by 0.4%, supported by semiconductor sales, and exports to the European Union saw a modest increase of 0.9%, driven by higher demand for biohealth products and ships.

Looking ahead, South Korea's Ministry of Trade has indicated that while the overall trade outlook remains positive, fluctuations in the global economy and specific sectors could affect the growth trajectory in the coming months.