October's Export Boom: Key Industries Drive Growth
The export value of non-semiconductor items surged by 34% year-over-year last month. Electrical machinery set a new monthly record, while cosmetics and bio-healthcare achieved their highest October performance to date.
According to the Ministry of Trade, Industry, and Energy's announcement on the "October 2026 Export-Import Trends," overall export value reached $115.28 billion, a staggering 93.7% increase. The semiconductor export's 259.4% surge led the overall growth, with 18 out of the 20 key commodities exporting more than the previous year.
The demand for transformers and wiring-cables, integral to AI data centers, propelled electrical machinery exports to $1.99 billion. This represents a 74.0% increase year-over-year, marking the highest monthly record.
The AI investment effect also boosted computer exports, which soared to $5.85 billion, a remarkable 496.6% jump. The Ministry of Industry attributed this to expanded server infrastructure investments and increased demand for server-use solid-state drives (SSDs).
Export Growth in Cosmetics and Bio-Health Industries
The cosmetics sector witnessed a surge in exports to the United States, China, and the European Union (EU), collectively driving an increase of 57.5% year-on-year to $1.44 billion.
Bio-health exports reached $1.53 billion, reflecting a robust growth of 30.2%. The Ministry of Trade attributed this expansion to the diversification of export destinations and the multi-year contract-based expansion of contract manufacturing organizations (CMO) for pharmaceuticals.
However, examining the performance by product category reveals the influence of factors beyond demand. Automotive exports, totaling $6.55 billion, grew by 18.1% year-on-year, setting a new record for the month of October. This growth was driven by strong demand for hybrid vehicles, coupled with an increase in working days due to the shift of the Chuseok holiday from October of the previous year to September of the current year.
In contrast, the volume of petroleum products and petrochemicals shipped decreased by 7.5% and 6.8%, respectively. Nonetheless, the value of these exports increased due to the higher price of crude oil resulting from supply disruptions in the Middle East, leading to a rise in prices. Petroleum products saw a substantial increase of 80.0% to $6.92 billion, while petrochemicals grew by 27.5% to $4 billion.
