Home > Business > Economy

Korea logs largest annual current account surplus in 2025: BOK

Published: 06 Feb. 2026, 12:10 Updated: 06 Feb. 2026, 14:38

Containers ready for export are piled up at a port in Incheon on Feb. 1. [NEWS1]

Korea posted its largest-ever annual current account surplus last year, supported by robust exports amid strong semiconductor demand, central bank data showed Friday.

The country's current account surplus totaled $123.05 billion in 2025, up from $99.97 billion a year earlier, according to the data from the Bank of Korea (BOK). The figure marks the largest yearly surplus on record, surpassing the previous high of $105.1 billion set in 2015 and beating the BOK's forecast of $115 billion.

The record surplus was driven by strong exports amid a semiconductor upcycle.

The goods account logged a surplus of $138.07 billion last year, up from $110.91 billion the previous year, as exports rose 2.1 percent on year to a new record high of $718.94 billion.

Outbound shipments of semiconductors surged 21.9 percent on year to $175.3 billion in 2025, while exports of vehicles edged up 0.3 percent to $68.55 billion and those of vessels soared 24 percent to $30.38 billion.

The services account, however, posted a $34.52 billion deficit, compared with a $29.43 billion deficit in 2024, due mainly to a travel account deficit and payments for the use of intellectual property rights.

The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, logged a $27.92 billion surplus in 2025, compared with a $26.78 billion surplus a year earlier, the data showed.

Containers ready for export are piled up at a port in Incheon on Feb. 1. [NEWS1]

"The current account surplus surpassed $100 billion for the second time ever in 2025 thanks to the semiconductor supercycle and falling global oil prices," BOK official Kim Young-hwan told a press briefing.

"Though uncertainties remain regarding the United States' tariff policies and geopolitical risks, the current account is expected to remain solid this year," he added.

In December alone, the country posted a current account surplus of $18.7 billion, up from $12.74 billion a year earlier and $12.9 billion a month earlier. It marks the largest monthly surplus on record, surpassing the previous high of $14.22 billion set in September 2025.

Korea has reported a current account surplus every month since May 2023, marking the second-longest surplus streak on record. In detail, the goods account logged a record $18.85 billion surplus in December, marking the 22nd consecutive month of surplus.

A visitor walks past the logo of SK hynix during the Korea Electronics Show 2025 at Coex in Gangnam District, southern Seoul on Oct. 22, 2025. [AFP/YONHAP]

Exports advanced 13.1 percent on year to $71.65 billion, while imports added 1.7 percent to $52.8 billion.

The services account, however, registered a $3.69 billion deficit in December, compared with a $2.38 billion deficit a year earlier and a $2.85 billion deficit reported in November.

The deficit was due largely to rising demand for overseas travel during the winter vacation season, according to the central bank.

The primary income account posted a $4.73 billion surplus in December, up sharply from a $1.53 billion surplus the previous month, and compared with a $4.65 billion surplus a year earlier.

Yonhap