Exports Rise 11.6% Year-on-Year to Reach $30.5 Billion
Record Number of Exporting SMEs from January to September
Strong Export Performance in China, US, and Europe... Online Exports Also Expanding
In the third quarter of this year, exports by small and medium-sized enterprises (SMEs) recorded double-digit growth, setting a new all-time high for third-quarter performance. In particular, major export items such as cosmetics and automobiles performed exceptionally well.
According to the "2025 Third Quarter SME Export Trends" announced by the Ministry of SMEs and Startups on October 26, third-quarter exports reached 30.5 billion dollars (approximately 43.9139 trillion won), an increase of 11.6% compared to the same period last year. This marks the highest third-quarter figure on record.
Cumulative exports from January to September also hit a record high, reaching 87.1 billion dollars, up 5.8% from the same period last year. The number of exporting SMEs during this period also reached an all-time high at 89,418 companies.
By product category, export performance improved in nine out of the top ten export items. Automobile exports rose by 80% year-on-year to 2.62 billion dollars (about 3.7723 trillion won), driven by increased recognition of the high quality of Korean used cars.
Cosmetics, a representative SME-led export item, also set a new record, rising 28% year-on-year to 2.21 billion dollars (about 3.182 trillion won) during the same period. Exports to the United States reached an all-time high of 490 million dollars (up 26.6%), while growth in Poland (up 69.1%) and the United Arab Emirates, as well as other European and Middle Eastern markets, was also notable.
SMEs accounted for 73.3% of total cosmetics exports, leading the Ministry to evaluate that "K-beauty" has firmly established itself as an SME-driven export industry. The share of SMEs in cosmetics exports has continued to grow each quarter since surpassing 70% in the first quarter of this year.
By country, exports to major trading partners such as China (4.75 billion dollars, up 12.7%) and the United States (4.64 billion dollars, up 4.3%) increased. In particular, the United States showed solid growth in items subject to tariffs, with steel, aluminum, and auto parts exports rising by 3.6%, 21.6%, and 11.0%, respectively.
Online exports also continued to grow. In the third quarter, SME online exports reached 300 million dollars, the second highest on record, and the cumulative total from January to September hit an all-time high of 810 million dollars.
Lee Soonbae, Director General of Global Growth Policy at the Ministry of SMEs and Startups, stated, "K-beauty is showing remarkable growth not only in the United States but also in emerging markets such as Poland and the UAE," adding, "We will work to expand this success story of K-beauty to other promising consumer goods."
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