Sanaa:South Korea recorded a significant current account surplus in August, marking it as the second-highest on record due to robust exports, particularly in the semiconductor sector, as reported by the central bank on Thursday.
According to Yonhap News Agency, the current account surplus reached $46.1 billion in August, an increase of $4 billion from the previous month. This figure represents a substantial rise of $36.2 billion compared to August 2025 and follows a record surplus of $49.73 billion in June of the same year. The surplus has consistently remained above the $40 billion threshold for three consecutive months, with July's surplus recorded at $42 billion.
For the period from January to August, the cumulative current account surplus amounted to $279.2 billion, which is nearly four times the figure from the same period in the previous year. The Bank of Korea highlighted that the goods account surplus in August was $46.81 billion, driven by an 82.1 percent increase in exports, totaling $104.8 billion, and a 23.8 percent rise in imports, amounting to $57.99 billion.
The report indicated that exports of semiconductors more than tripled, while petroleum product exports increased by 64.9 percent. Conversely, there were declines in the outbound shipments of cars and ships, which fell by 30.1 percent and 45.2 percent, respectively. Despite this, the services account faced a deficit of $1.68 billion in August, primarily due to shortfalls in other business services and travel. The travel deficit expanded to $770 million from $340 million in July.
Additionally, the central bank noted that the primary income account, encompassing foreign workers' wages and international dividend and interest income, achieved a surplus of $1.92 billion. South Korea has maintained a current account surplus consistently since May 2023, making August the 40th consecutive month of surplus. The country registered its largest annual surplus in 2025, amounting to $123.05 billion, surpassing the previous record of $105.1 billion set in 2015.