South Korea posts $46.1bn August current account surplus, second-largest on record
In short
South Korea's current account surplus was $46.11 billion in August, the second-largest monthly figure on record after June's $49.73 billion, according to provisional Bank of Korea data released on October 8. Goods exports rose 82.1% from a year earlier to $104.8 billion, with semiconductor exports up 206.1% and SSD exports up 366.8%. The January-August surplus reached $279.2 billion, about four times the $69.67 billion of a year earlier.
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South Korea recorded a current account surplus of $46.11 billion in August, according to the Bank of Korea's provisional balance of payments data for August 2026 released on October 8. The figure was up $4.03 billion from July's $42.08 billion and is the second-largest monthly surplus on record, after June's $49.73 billion. Kyunghyang Shinmun noted that July had held the second-place record until now. The surplus has stayed above $40 billion for three consecutive months, and the cumulative surplus for January to August reached $279.2 billion, close to four times the $69.67 billion of a year earlier. Asia Economy reported that the current account has been in surplus for 39 straight months since May 2023, the second-longest run on record. [ 1 , 2 , 3 ]
The goods balance drove the result with a $46.81 billion surplus, up from $40.43 billion in July and second only to June's $47.89 billion. Goods exports rose 82.1% from a year earlier to $104.8 billion, above $100 billion for a third month. On a customs basis, IT exports rose 162.6% and non-IT exports 8.1%, according to Asia Economy. SSD exports rose 366.8% and semiconductors 206.1%, while petroleum products rose 64.9%. Passenger car exports fell 30.1%, and Kyunghyang Shinmun reported ships fell 45.2%. By region, Kyunghyang Shinmun reported exports rose to China (119.4%), Southeast Asia (91.7%) and the United States (89.2%). Goods imports were $57.99 billion, Asia Economy reported. [ 1 , 2 , 3 ]
The services account showed a $1.68 billion deficit, smaller than a year earlier ($2.24 billion) and July ($1.97 billion), Kyunghyang Shinmun reported. Asia Economy said the travel deficit widened to $770 million during the peak overseas travel season, while the transport account posted a $520 million surplus on higher export freight rates. The primary income account showed a $1.92 billion surplus. [ 2 , 3 ]
Net assets in the financial account rose $40.23 billion, similar to July, Asia Economy reported. Residents' overseas securities investment rose $16.6 billion, the second-largest increase after October last year. Foreign investment in domestic equities fell $470 million as the temporary effect of SK hynix's US depositary receipt issuance faded, according to the outlet. Asia Economy also said the result moves the country closer to a sharply raised full-year surplus forecast of $450 billion. [ 2 ]
Why it matters
The figures show the surplus above $40 billion for a third straight month, driven by chip and SSD exports, according to the outlets. Asia Economy reported that the result brings the country closer to a sharply raised full-year surplus forecast of $450 billion.
Key facts
- The August current account surplus was $46.11 billion, up $4.03 billion from July's $42.08 billion. [ 1 , 2 , 3 ]
- It is the second-largest monthly surplus on record, after June's $49.73 billion. [ 1 , 2 , 3 ]
- The surplus has exceeded $40 billion for three consecutive months. [ 1 , 2 , 3 ]
- The January-August cumulative surplus was $279.2 billion, against $69.67 billion in the same period last year. [ 1 , 2 , 3 ]
- The goods balance showed a $46.81 billion surplus, second only to June's $47.89 billion. [ 1 , 2 , 3 ]
- Goods exports were $104.8 billion, up 82.1% year on year and above $100 billion for a third month. [ 2 , 3 ]
- On a customs basis, semiconductor exports rose 206.1% and SSD exports 366.8%, while passenger car exports fell 30.1%. [ 1 , 2 , 3 ]
- The services account posted a $1.68 billion deficit. [ 2 , 3 ]
Confirmed by several sources
- The Bank of Korea reported an August current account surplus of $46.11 billion in its provisional balance of payments data released on October 8. [ 1 , 2 , 3 ]
- August's surplus is the second-largest on record after June's $49.73 billion. [ 1 , 2 , 3 ]
- The cumulative January-August surplus was $279.2 billion, roughly four times the year-earlier $69.67 billion. [ 1 , 2 , 3 ]
- The goods surplus was $46.81 billion, the second-largest after June. [ 1 , 2 , 3 ]
- Exports rose 82.1% to $104.8 billion, led by SSDs (366.8%) and semiconductors (206.1%). [ 2 , 3 ]
- The services deficit was $1.68 billion. [ 2 , 3 ]
Still unclear
- Who issued the $450 billion full-year current account surplus forecast. Only Asia Economy mentions the forecast and it does not name its source.
- The current account has been in surplus for 39 consecutive months since May 2023, the second-longest such run. Reported only by Asia Economy.