$9.3 billion current account surplus in Korea during November
SEOUL, January 8, 2020 – Central Bank of Korea data showed, today, Wednesday, that the Republic of Korea recorded a current account surplus for the seventh consecutive month in November 2024, driven by the strong performance of semiconductors.
Yonhap News Agency reported that the country’s current account surplus reached 9.3 billion US dollars during November, down from a surplus of 9.78 billion dollars in the previous month, according to preliminary data issued by the Bank of Korea.
Korea has recorded a current account surplus since May, and the accumulated surplus for the first 11 months of 2024 has nearly tripled compared to the same period in 2023, reaching $83.54 billion.
The goods account recorded a surplus of $9.3 billion last November, recording a surplus for 20 consecutive months, while exports rose by 1.2% on an annual basis in November, reaching a value of $57.1 billion, with semiconductor exports increasing by 29.8%, while imports decreased by 4.4% to $47.35 billion per month.
The Central Bank expected that the Republic of Korea would record a current account surplus of $90 billion in 2024 and $80 billion in 2025.
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