Korea extends current account surplus in July amid strong exports
4 Articles
4 Articles
Korea extends current account surplus in July amid strong exports
Korea posted a current account surplus in July, central bank data showed Friday, led by robust exports amid the global artificial intelligence (AI) boom. The current account surplus totaled $42 billion in July, down $7.65 billion from a month earlier, according to data from the Bank of Korea (BOK). Compared with the same month a year earlier, the figure jumped $30.1 billion. It marked the second-largest monthly figure following $49.73 billion se…
July Current Account Surplus of $42.08 Billion... Record High for Month Driven by Semiconductor Boom
(Seoul = Yonhap News) Reporter Han Ji-hoon = South Korea's current account balance in July recorded its largest ever surplus for the month, driven by the continued strong performance of semiconductor exports.
Driven by strong exports of information technology (IT) items, including semiconductors, South Korea recorded a current account surplus exceeding $40 billion in international trade in July, following June. According to the "Preliminary Balance of Payments Statistics for July" released by the Bank of Korea on the 4th, the current account surplus for July was tallied at $42.08 billion. This is a historical record.
The Bank of Korea announced on the 4th that the current account surplus for July reached $42.08 billion, an increase of $30.13 billion from the same month last year. Driven by the U.S. artificial intelligence (AI) boom leading to a surge in semiconductor exports by major South Korean companies, the figure surpassed $40 billion for the second consecutive month. This marks an all-time high for the month of July. However, compared to the previous m…
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