South Korea Records Record $38.61 Billion Current Account Surplus in May as Services Deficit Narrows

South Korea recorded a current account surplus of US$38.61 billion in May, the largest monthly total on record, Yonhap reported. The Bank of Korea data showed the surplus exceeded the previous high of US$37.93 billion set in March and rose from US$28.29 billion the prior month.

Exports reached US$94.34 billion, up 62.9 percent from a year earlier, while imports climbed 22.2 percent to about US$56.48 billion.

The goods account posted a US$37.86 billion surplus. Information technology product exports jumped 128.9 percent year-on-year, including a 167.7 percent rise in chip shipments and a 249.4 percent increase in computer peripherals. The services account posted a narrower deficit of US$1.09 billion compared with US$2.42 billion the previous month.

The primary income account recorded a US$2.17 billion surplus, while the secondary income account showed a US$330 million deficit. For the full year 2025 the country recorded an annual surplus of US$123.05 billion, surpassing the prior record of US$105.1 billion set in 2015.

The data were released Wednesday.