AKP Phnom Penh, January 08,2025--
South Korea reported a current account surplus for the seventh consecutive month in November on the back of solid sales of semiconductors, central bank data showed Wednesday.
The country's current account surplus reached US$9.3 billion in November, narrowing from a $9.78 billion surplus the previous month, according to the preliminary data from the Bank of Korea (BOK).
The country has recorded a current account surplus since May, and the accumulated surplus for the first 11 months of 2024 has nearly tripled to $83.54 billion from that of the same period in 2023.
The goods account logged a $9.3 billion surplus in November, marking the 20th consecutive month of surplus.
The surplus came as exports rose 1.2 percent from a year earlier to $57.1 billion, with outbound shipments of semiconductors surging 29.8 percent on-year, while imports fell 4.4 percent to $47.35 billion in the month.
The services account, however, registered a $2.09 billion deficit in November, compared with a $1.73 billion deficit a month earlier.
The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, logged a $1.94 billion surplus in November, narrowing from the previous month's $3.45 billion surplus, the data showed.
The BOK expected South Korea to report a current account surplus of $90 billion in 2024 and $80 billion in 2025.

AKP-Yonhap