FX.co ★ South Korea Current Account Surplus Narrows in July

South Korea’s current account surplus narrowed to USD 42.08 billion in July 2026, down from a record high of USD 49.73 billion in June. The goods account surplus declined to USD 40.43 billion from USD 47.89 billion over the same period, as exports surged 65.3% year-on-year to USD 100.45 billion and imports rose 21.7% to USD 60.02 billion. Export growth was led by a sharp increase in semiconductor shipments, supported by robust global demand related to the AI boom. The primary income account surplus expanded to USD 4.35 billion from USD 3.27 billion, mainly reflecting higher equity income. By contrast, the secondary income deficit widened to USD 0.73 billion from USD 0.14 billion, owing to an increase in secondary income payments. The services account deficit also grew, rising to USD 1.97 billion from USD 1.21 billion, due to larger shortfalls in manufacturing services and intellectual property usage. Over the first seven months of 2026, the current account surplus surged to USD 233.09 billion, compared with USD 59.82 billion in the same period of 2025.