Report published September 1, 2026
Goldman Sachs: Tech-Driven Strong Rebound in South Korea August Exports
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 1, 2026
- Analysis as of
- Not stated in source
Authors / editors: Irene Choi, Goohoon Kwon, CFA
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
South Korea's headline exports rebounded 2.8% mom sa (+68.7% yoy) in August 2026, beating consensus forecasts. The surge was driven by resilient semiconductor exports and strong demand from China and the US, while imports declined, widening the trade surplus to US$34.7bn.
Key Takeaways
- 1.South Korea's headline exports rebounded 2.8% mom sa (+68.7% yoy) in August, beating consensus and GS forecasts.
- 2.Export strength was heavily tech-driven (+6.5% mom sa), propelled by robust semiconductor exports (+7.2% mom sa) and computer shipments.
- 3.Geographically, exports to China (+9.5% mom sa) and the US (+6.7% mom sa) accounted for the entire headline sequential increase, offsetting a 24.4% drop to the EU.
Table of Contents
- Bottom line:
- Key numbers:
- Asia-MAP scores:
- Main points:
- Exhibit 1: Rebound in August exports...
- Exhibit 2: ... led by sustained strong gains in semiconductors...
- Exhibit 3: ... and exports to China and the US
- Disclosure Appendix
Report data
Exhibit 1: Rebound in August exports...
| Metric | Estimate | Context |
|---|---|---|
| August exports growth | 68.7 % yoy | Headline export growth year-on-year vs 63.0% Bloomberg consensus and 64.6% GS forecast |
| August exports growth (mom sa) | 2.8 % mom sa | Non-annualized, seasonally adjusted headline export growth |
| August imports growth | 22.5 % yoy | Year-on-year import growth vs 25.0% Bloomberg consensus |
| August trade balance | 34.7 US$bn | Trade surplus (not seasonally adjusted) nearing historical high |
| Tech exports growth | 6.5 % mom sa | Sequential growth in tech exports |
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Authors / Editors
Reported Data Context
- August exports growth: 68.7 % yoy (Aug-26) · Source: Ministry of Trade, Industry and Resources
- August exports growth (mom sa): 2.8 % mom sa (Aug-26) · Source: Ministry of Trade, Industry and Resources
- August imports growth: 22.5 % yoy (Aug-26) · Source: Ministry of Trade, Industry and Resources
- August trade balance: 34.7 US$bn (Aug-26) · Source: Ministry of Trade, Industry and Resources
- Tech exports growth: 6.5 % mom sa (Aug-26) · Source: Ministry of Trade, Industry and Resources
Themes
Regions
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