South Korea posts record current account surplus

South Korea recorded its largest-ever monthly current account surplus in March, supported by robust exports and soaring overseas demand for semiconductors, according to data released Friday by the Bank of Korea, News.Az reports, citing Yonhap.

The country’s current account surplus reached $37.33 billion in March, sharply higher than the $23.19 billion surplus reported in February, the central bank said.

The figure marked the highest monthly surplus on record, surpassing the previous all-time high set a month earlier.

South Korea has now recorded a current account surplus every month since May 2023, extending the streak to 35 consecutive months — the second-longest run in the country’s history.

In 2025, the country registered a record annual current account surplus of $123.05 billion, exceeding the previous peak of $105.1 billion recorded in 2015.

“The U.S.-Iran war has hardly affected goods exports and imports in March,” said Kim Young-hwan from the BOK’s financial statistics department. “The impact of the war will likely appear in April, but it is not strong enough to alter the overall trend.”

Kim added that the prolonged surplus trend is expected to continue beyond April, with semiconductor exports and developments in the Middle East remaining key variables.

The goods account posted a record surplus of $35.07 billion in March as exports jumped 56.9% year-on-year to an all-time high of $94.32 billion. Imports also rose 17.4% to around $59.24 billion.

Exports of information technology products surged 111.7% from a year earlier, including a 149.8% increase in semiconductor shipments and a 167.5% rise in computer peripheral exports.

Meanwhile, the services account registered a deficit of $1.29 billion in March, mainly due to increased payments for other business services.

The travel account posted a surplus of $140 million, marking the first monthly surplus in more than 11 years since November 2014. The increase was attributed largely to a rise in foreign visitors attending the comeback concerts of BTS in Seoul and Goyang.

“Thanks to major K-pop concerts such as BTS performances, foreign arrivals increased significantly in March,” the BOK official said, noting that more than 2 million foreign visitors traveled to South Korea during the month. “The monthly number has continued to rise since the start of the year and does not appear to be temporary.”

The primary income account, which includes overseas dividend and interest income as well as wages paid to foreign workers, posted a surplus of $3.58 billion, driven mainly by dividend earnings.

The secondary income account, however, recorded a deficit of $790 million.

In the financial account, South Korea’s net assets rose by $36.99 billion in March, compared to a $22.8 billion increase in February.

Direct overseas investment by South Korean residents increased by $8.89 billion, while foreign direct investment into South Korea climbed by $3.77 billion.

In securities investment, South Korean investors expanded their overseas stock holdings by $4 billion in March, while foreign investors reduced their investments in the country by $34.04 billion, the report showed.

News.Az 

By Nijat Babayev