Seoul:The Republic of Korea recorded the second-largest current account surplus among major economies in the second quarter, exceeding the combined surpluses of Germany and Japan.
According to Wam, the country's current account surplus reached US$116.63 billion during the April-June period, second only to China's $193.72 billion, based on International Monetary Fund (IMF) data available on the Bank of Korea's Economic Statistics System.
Korea's surplus saw a significant increase from $28.39 billion a year earlier, greatly surpassing the growth rates of 11.9 percent in Germany and 5 percent in Japan. This substantial growth was primarily fueled by a surge in semiconductor exports amid climbing chip prices and strong global demand.
South Korea's semiconductor exports jumped 181.6 percent year-on-year to $113.89 billion in the second quarter, as reported by the Ministry of Data and Statistics.
