South Korea posts world’s second-largest current account surplus in Q2

South Korea posted the second-largest current account surplus among major economies in the second quarter, surpassing the combined surpluses of Germany and Japan, central bank data showed.

The country’s current account surplus reached US$116.63 billion in the April-June period, trailing only China’s $193.72 billion, Yonhap News Agency reported.

Germany ranked third with a surplus of $52.28 billion, followed by Japan with $50.62 billion. Their combined surplus of $102.90 billion was $13.73 billion less than South Korea’s.

It marked the first time South Korea’s surplus exceeded the combined figures for Germany and Japan since comparable data for all three countries became available in the first quarter of 1996.

The increase was driven by strong semiconductor exports, a key contributor to South Korea’s export growth.