Korea Sees 22nd Month of Surplus on Export Growth

Post by: Layla Badr

South Korea has been making more money from trade and other deals with other countries than it spends — and it has now done this for 22 months in a row.

According to a report from the Bank of Korea (BOK) on Tuesday, the country had a current account surplus of $7.18 billion in February this year. This means the country earned that much more than it spent through things like selling goods to other countries, investments, and services. The month before, in January, the surplus was $2.94 billion.

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The main reason for the increase in February was that South Korea sold more products to other countries — in other words, exports went up.

As reported by Yonhap News Agency, South Korea has been recording a current account surplus every month since May 2023. That means the country has been earning more than it spends for nearly two years without a break.

For the full year of 2024, the country reported a total current account surplus of $99.04 billion. This is a big jump compared to the $32.82 billion surplus in 2023, according to the BOK.

A current account surplus is a good sign for a country. It shows that the economy is doing well, especially when exports and investments are strong.

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