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South Korean exports seen rising for 16th month on solid AI chip demand
Economists forecast a record $38.15 billion trade surplus as semiconductor sales jump 259.4% in early September, driven by AI investment demand.
- On Tuesday, a Reuters poll indicated South Korean exports likely rose for a 16th consecutive month in Sept, driven by robust demand for chips tied to AI investments.
- Exports from Asia are forecast to have risen 62.0% this month, with economist Ki-tae at Investment Securities saying, "The boom in semiconductor exports will persist."
- Semiconductor sales surged 259.4% in the first 20 days of Sept before the Chuseok holidays, pushing exports to 78.3% growth and a record high.
- While growth is expected to be the slowest in four months, analysts said demand remained robust; Sept has only 21.5 working days versus 24 a year earlier.
- Official trade figures are scheduled for release Thursday, October 1, at 9 a.m. GMT, with forecasts predicting a record monthly trade surplus of $38.15 billion.
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South Korean exports seen rising for 16th month on solid AI chip demand
South Korean exports likely rose for a 16th consecutive month in September on solid chip demand tied to AI investments, a Reuters poll showed on Tuesday, though growth was seen moderating due to fewer working days compared with a year earlier.
·London, United Kingdom
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South Korea's exports of artificial intelligence chips have generated a new surge. In the first 20 days of September, semiconductor sales increased by 259.4%, setting a new export record for the period. A historic trade surplus of $38.15 billion is expected by the end of the month.
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