Seoul: South Korea's exports rose sharply in January, driven by strong global demand for semiconductors, government data has shown. Exports increased by 33.9% year on year to $65.85 billion, marking the highest level ever recorded for the month of January and surpassing the $60 billion mark for the first time.

According to Qatar News Agency, figures released by the Ministry of Trade, Industry and Energy indicated that imports also rose, climbing 11.7% from a year earlier to $57.1 billion. This resulted in a trade surplus of $8.7 billion for the month. Semiconductors were the main driver of export growth. Shipments of chips reached $20.5 billion, more than doubling from a year earlier, as demand surged for components used in artificial intelligence servers.

Exports of automobiles increased by 21.7% to $6.07 billion, while shipments of mobile communication devices, including smartphones, jumped 66% to $2.03 billion, extending gains for a third consecutive month. Computer exports also continued to rise, growing by 89.2% year on year to $1.55 billion, marking a fourth straight month of increases.

Elsewhere, exports of petroleum products rose 8.5% to $3.74 billion, while shipments of bio-health products climbed 18.3% to $1.35 billion. Exports of agricultural and fisheries products increased by 19.3% to $1.02 billion, while cosmetics exports rose 36.4% to $1.03 billion, reflecting continued strong overseas demand.