(ATTN: RECASTS headline, lead; ADDS details throughout)

By Kang Yoon-seung

SEOUL, Aug. 1 (Yonhap) -- South Korea's monthly exports soared to the second highest ever by moving up nearly 63 percent in July from a year earlier, data showed Saturday, amid solid global demand for memory chips.

Outbound shipments came to US$98.89 billion in July, according to the Ministry of Trade, Industry and Resources. It was slightly below the all-time high record of $102.2 billion posted in June.

Imports rose 26.5 percent on-year to $68.56 billion, resulting in a trade surplus of $30.32 billion.

By sector, exports of semiconductors, the backbone of Asia's fourth-largest economy, shot up 179 percent over the period to $41 billion as global prices for memory products remained high despite heightened competition.

The figure topped the $40 billion mark for two consecutive months.

Exports of automobiles also rose 7 percent to $6.2 billion on the back of strong global demand for hybrid and other eco-friendly models.

Outbound shipments of petroleum products jumped 34.1 percent to $5.68 billion, while those of petrochemical products gained 10.3 percent to $4.18 billion.

By destination, exports to China nearly doubled to $21.68 billion on the back of strong shipments of chips, non-metal products and petroleum goods.

Exports to the United States surged 68.7 percent to $17.4 billion, driven by artificial intelligence (AI) data center investment projects rolled out by major high-tech companies, the data showed.

colin@yna.co.kr

(END)

  • Fans, celebrities support BTS' Grammy boycott
  • Police drop underage dating charge against actor Kim Soo-hyun
  • S. Korea formally completes development of homegrown KF-21 fighter jet
  • S. Korea in talks with U.S. military over air base access following white phosphorus leak: sources

  • BTS' 'Arirang' returns to top 10 on Billboard 200

  • Fans, celebrities support BTS' Grammy boycott

  • S. Korea formally completes development of homegrown KF-21 fighter jet
  • Police drop underage dating charge against actor Kim Soo-hyun
  • S. Korea in talks with U.S. military over air base access following white phosphorus leak: sources

  • Lee says emergence of AI era offers S. Korea new opportunity

  • Fans, celebrities support BTS' Grammy boycott

  • (2nd LD) U.S. military drone flies over inter-Korean border area, prompts civilian evacuation
  • New U.S. Ambassador Steel calls for building 'results oriented, forward leaning' alliance with S. Korea
  • 30 pct of defectors from N. Korea's nuclear test site areas show chromosome mutations: study
  • N. Korea denounces move by U.S. military in Japan to increase troop numbers