FX.co ★ South Korea Posts Record Current Account Surplus

South Korea’s current account surplus jumped to a record high of USD 38.61 billion in May 2026, up from USD 28.29 billion in April, supported primarily by strong semiconductor export growth.

The goods surplus widened to USD 37.86 billion in May from USD 33.88 billion in April, as exports surged 62.9% year-on-year to USD 94.34 billion, far outpacing the 22.2% increase in imports to USD 56.48 billion.

The primary income account shifted to a surplus of USD 2.17 billion in May from a deficit of USD 2.53 billion in April, reflecting higher equity income. At the same time, the services account deficit narrowed to USD 1.09 billion from USD 2.42 billion, mainly on the back of smaller shortfalls in other business services and manufacturing services.

The secondary income deficit also narrowed, to USD 0.33 billion from USD 0.64 billion, owing to a reduction in secondary income payments.

Over the first five months of 2026, the current account surplus soared to USD 141.28 billion, compared with USD 33.90 billion in the same period of 2025.