Photo : YONHAP News
South Korea has posted its second-largest monthly current account surplus of 28-point-29 billion U.S. dollars in April on the back of a semiconductor upcycle, continuing a streak of surpluses for the 36th straight month.
According to provisional data from the Bank of Korea released Friday, the April surplus comes after a record 37-point-93 billion dollars set in March, with accumulation during the first four months of the year reaching 102-point-67 billion dollars.
The goods account hit a surplus of 33-point-88 billion dollars, also the second-largest on record, after exports jumped 54-point-five percent from the previous year to 90-point-59 billion dollars.
Shipments of computer peripherals surged 411-point-three percent, and those of semiconductors increased 171-point-four percent.
Imports rose 16-point-one percent to 56-point-seven billion dollars, led by gains from capital goods, such as semiconductors and data communications equipment, and raw materials, including coal and crude oil.
The services account posted a deficit of two-point-42 billion dollars, with the travel balance turning to a deficit of 30 million dollars after seeing a surplus of 140 million dollars.
The country had posted the first surplus for the tourism sector in eleven years and four months in March thanks to K-pop sensation BTS’ comeback show in Seoul.