South Korean exports are anticipated to climb for a twelfth consecutive month in May, fueled by worldwide artificial intelligence investment that has sparked increased demand for semiconductors, according to a new Reuters survey released Thursday.
Nine economists surveyed predicted that exports from Asia’s fourth-largest economy would increase 48.4% compared to the same period last year. The country’s trade performance serves as an important indicator for global commerce trends.
The projected growth rate would represent a slight uptick from April’s 48.0% increase, though it falls short of March’s 50.2% surge, which marked the highest level recorded since August 1988. Export growth has been sustained since June 2025, with double-digit increases documented since December.
“It is in line with projection that export growth will accelerate in the second quarter from the first quarter, but the pace is even stronger,” said Stephen Lee, an economist at Meritz Securities in Seoul.
Data from the first 20 days of May revealed exports jumped 64.8% year-over-year, with semiconductor sales more than tripling during that period.
“The export boom will continue for a significant period of time on the global manufacturing cycle being robust despite high oil prices and the boom in chip exports,” said Park Sang-hyun, an economist at iM Securities.
The survey also indicated imports would likely grow 21.5% this month compared to last year, representing an acceleration from April’s 16.7% gain and marking the fastest pace since August 2022.
Consumer inflation is expected to reach 3.0% in May, up from 2.6% in April, which would represent the quickest year-over-year growth since March 2024.
Official trade data for May will be released by South Korea on Monday, June 1, at 9 a.m. local time.
