South Korea’s Current Account Surplus Surges to All-Time High
The current account balance — the most comprehensive gauge of cross-border trade — reached $13.26 billion in January, the highest figure ever recorded for that month, BOK confirmed. The account has remained in positive territory for 33 straight months dating back to May 2023, sustained largely by relentless global appetite for South Korean semiconductors.
The goods trade surplus alone reached $15.17 billion — approximately 4.5 times the level posted in January of the prior year — underscoring just how dramatically export momentum has accelerated.
Outbound shipments climbed 30.0 percent year-on-year to $65.51 billion, while inbound trade rose a comparatively modest 7.0 percent to $50.34 billion, widening the trade gap considerably.
Not all figures pointed upward. The services account deficit deepened to $3.80 billion, deteriorating from $2.35 billion recorded during the same period a year ago.
Meanwhile, the primary income account — encompassing wages and returns on investment — logged a $2.72 billion surplus, buoyed by robust dividend flows from overseas equity holdings.
On the capital side, the financial account recorded a net outflow of $5.63 billion. Outward direct investment by South Korean residents expanded by $7.04 billion, while inbound foreign direct investment into the country rose $5.34 billion.
Portfolio flows told a similarly outward-leaning story: residents' overseas stock and bond investments surged $13.46 billion, compared to $4.69 billion in foreign purchases of South Korean equities and debt.
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