South Korea's Export Volumes Hit Record 43.9% in October as Chip Demand Surges

According to Bank of Korea's October export-import price indices released on November 13, export volumes surged 43.9% year-on-year, marking a record high increase. The growth was driven by semiconductors, memory chips, and AI infrastructure-related equipment including machinery and electrical components.

Import prices fell 1.8% month-on-month, with currency depreciation (won strengthened 1.6%) playing a larger role than oil price declines. DRAM export prices rose 5.5% from the prior month, while income trade terms—a measure of export purchasing power—reached a historic high, up 74.6% year-on-year.

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