November Current Account Hits Historic High The Bank of Korea announced a $12.24 billion current‑account surplus for November 2025, the biggest November figure since record‑keeping began in 1980 [2][3]. The surplus more than doubled the $6.81 billion recorded in October, pushing the 11‑month cumulative surplus to $101.82 billion, a new record for that period [2][3]. This performance reflects a widening gap between export inflows and other outflows, underscoring the economy’s resilience amid strong external demand.

Export Growth Driven by Semiconductors and Vehicles November exports rose 5.5 % year‑on‑year to $60.11 billion, with chip shipments surging 38.7 % and vehicle shipments climbing 10.9 % [2][3]. The goods‑account surplus reached $13.31 billion, bolstered by the export rally and a modest 0.7 % decline in imports to $46.8 billion [3]. Primary‑income receipts added a $1.83 billion surplus, helped by dividend earnings and wages from abroad [3].

Services Deficit Narrows as Travel Rebounds The services account remained negative at $2.73 billion in November, but this was an improvement from the $3.75 billion deficit recorded in October [2][3]. The narrowing gap reflects renewed overseas travel demand, which softened the overall services shortfall. Together with the strong goods surplus, the reduced services deficit contributed to the record current‑account balance.

Early‑January Trade Shows Short‑Term Weakening Korea Customs data for January 1‑10 reveal exports of $15.55 billion, down 2.3 % from a year earlier, while imports fell 4.5 % to $18.21 billion, creating a $2.7 billion trade deficit for the period [1]. The early‑month dip contrasts with the robust November figures, suggesting a temporary slowdown in outbound shipments despite the broader surplus trend.