Incheon exports rise for 7th straight month, but trade deficit hits $350m

Exports from the Incheon region extended their streak to seven consecutive months in September, driven by strong performance in semiconductors and other electrical and electronic products.

Imports grew at a faster pace than exports, however, pushing the monthly trade balance into deficit.

According to the "September 2026 Incheon Regional Trade Statistics" released by Incheon Customs on Thursday, the region's exports last month totaled $6.17 billion, up 14.2 percent from the same month a year earlier.

Imports reached $6.51 billion, a 42.0 percent increase, leaving the trade balance at a deficit of $346 million.

Semiconductors were the primary driver of export growth. Exports of electrical and electronic products totaled $2.98 billion, up 53.6 percent year-on-year, with semiconductor exports alone jumping 72.8 percent to $2.58 billion.

By destination, exports performed strongly in the United States, Vietnam and China. Exports to the US rose 68.1 percent to $1.02 billion, while those to Vietnam climbed 60.9 percent to $1.02 billion and exports to China grew 26.1 percent to $1.46 billion.

In contrast, exports to the Commonwealth of Independent States, Latin America and the EU fell 59.3 percent, 43.3 percent and 17.5 percent, respectively.

The surge in imports was even more pronounced. Imports of electrical and electronic products nearly doubled, rising 97.1 percent to $3.23 billion, while fuel and mineral imports increased 23.0 percent and 35.6 percent, respectively.

Semiconductor imports were particularly notable, jumping 117.1 percent to $2.84 billion compared with the same month last year.

By country of origin, imports from Japan surged 172.7 percent, while those from Australia rose 115.7 percent and imports from Taiwan climbed 84.7 percent.

The divergence between export and import growth also widened the cumulative trade deficit.

Incheon's exports for the January–September period this year totaled $47.84 billion, up 6.7 percent from the same period last year, while imports reached $49.04 billion, a 9.0 percent increase.

The cumulative trade deficit for the period stood at $1.2 billion, up sharply from the $131 million deficit recorded in the same period last year.

Meanwhile, container cargo volume at Incheon Port last month came to 298,000 twenty-foot equivalent units, up 0.7 percent from a year earlier, accounting for 10.6 percent of the nation's total container throughput.