South korea: South 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 Qatar News Agency, the figure marks the largest yearly surplus on record, surpassing the previous high of $105.1 billion set in 2015 and beating the Bank of Korea'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% on-year to a new record high of $718.94 billion. Outbound shipments of semiconductors surged 21.9% on-year to $175.3 billion in 2025, while exports of vehicles edged up 0.3% to $68.55 billion and those of vessels soared 24% 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.

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.

South 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. Exports advanced 13.1% 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.