South Korea Records Record November Current Account Surplus of $12.24 B, Driven by Chip Exports
Updated (2 articles)
Record November Surplus Hits $12.24 B South Korea posted a current‑account surplus of $12.24 billion in November 2025, the highest ever for that month since the Bank of Korea began tracking data in 1980, up from $6.81 billion in October and marking a continuation of a monthly surplus streak since May 2023, the second‑longest on record[1][2].
Exports Surge Led by Semiconductors and Vehicles The goods account posted a $13.31 billion surplus as exports rose 5.5 % year‑on‑year to $60.11 billion, driven by a 38.7 % jump in chip shipments and a 10.9 % rise in vehicle exports, while imports fell 0.7 % to $46.8 billion[1][2].
Services Deficit Narrows Amid Travel Demand The services account recorded a $2.73 billion deficit, narrowed from $3.75 billion in October, reflecting reduced overseas travel spending and a modest easing of service‑import pressures[1][2].
Primary Income and Financial Flows Boost Balance Primary income posted a $1.83 billion surplus, helped by dividend earnings, while the financial account logged a net inflow of $8.27 billion, including $4.09 billion in overseas direct investment by residents and $1.76 billion in foreign direct investment, yielding a net $2.33 billion increase[2].
Cumulative Eleven‑Month Surplus Sets New High For the first 11 months of 2025, the cumulative current‑account surplus reached $101.82 billion, the largest ever recorded for that period, surpassing $86.68 billion in the same span of 2024[1][2]. The first article adds that 2025 exports hit a record $709.7 billion and projects a full‑year current‑account balance near $115 billion, the highest on record[1].
Sources
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1.
Yonhap: South Korea posts largest November current account surplus on strong exports – Highlights the record $12.24 billion surplus, export strength, and uniquely notes 2025 export record $709.7 billion and a projected full‑year current‑account balance of $115 billion.
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2.
Yonhap: Korea posts record November current account surplus on strong exports – Emphasizes the surplus figures, detailed goods and services breakdown, primary income surplus, and financial account inflows, without mentioning the 2025 export record projection.
Timeline
1980: The Bank of Korea begins compiling monthly current‑account data, establishing the baseline for later record‑keeping [1][2].
May 2023: South Korea starts an uninterrupted current‑account surplus streak, the second‑longest on record, reflecting sustained export strength [2].
2024 (first 11 months): The cumulative current‑account surplus totals US$86.68 billion, setting a benchmark that the 2025 surplus later surpasses [2].
2025 (full year): Exports hit a record US$709.7 billion, and a Bank of Korea official says December’s strength “supports a projection of a full‑year current account around US$115 billion, the largest on record” [1].
Nov 2025: South Korea posts a record November current‑account surplus of US$12.24 billion, the highest since 1980, driven by a US$13.31 billion goods surplus and a 5.5 % YoY rise in exports to US$60.11 billion, with chip exports soaring 38.7 % and vehicle shipments up 10.9 % [1][2].
Nov 2025: The services account narrows to a US$2.73 billion deficit, down from US$3.75 billion in October, as overseas travel demand eases, helping lift the overall balance [1][2].
Nov 2025: Primary income turns positive with a US$1.83 billion surplus, boosted by dividend earnings and foreign‑worker wages, contributing to the record current‑account figure [2].
Nov 2025: The financial account records a net inflow of US$8.27 billion, with overseas direct investment by residents up US$4.09 billion and foreign direct investment in Korea rising US$1.76 billion, underscoring strong capital flows [2].
Jan 8 2026: Korean authorities release data confirming the November surplus and note that the country has maintained a current‑account surplus every month since May 2023, marking the second‑longest streak on record [2].
Jan 9 2026: The Bank of Korea highlights that the 11‑month cumulative surplus of US$101.82 billion is the largest ever for that period, and projects the full‑year current‑account balance to near US$115 billion, reinforcing expectations of continued export‑driven resilience [1].