Seoul: The Republic of Korea recorded its largest current account surplus for any July, driven largely by solid exports and increased income from equity, as shown by central bank data released on Thursday. The country's surplus reached US$10.78 billion in July, marking the 27th consecutive month of surplus, based on data from the Bank of Korea.
According to Emirates News Agency, Korea has maintained a current account surplus every month since May 2023. Despite the impressive July figure, it was a decrease from the all-time monthly peak of US$14.27 billion recorded in June. Over the first seven months of this year, Korea's cumulative current account surplus amounted to $60.15 billion, a significant increase from the $49.21 billion reported during the same period last year.