SEOUL, August 7 (AJU PRESS) - South Korea posted the largest current account surplus in six years and nine months in June, driven by strong semiconductor exports, the Bank of Korea said Wednesday.
The current account balance recorded a surplus of $12.26 billion in the month, the largest since the $12.34 billion surplus in September 2017.
The cumulative surplus for the first half of 2024 was $37.73 billion, up from $1.15 billion in the same period last year.
Exports totaled $58.82 billion, up 8.7 percent from $54.13 billion a year earlier. Exports have risen for nine consecutive months since October, when overseas shipments rebounded after 14 months of decline.
The increase was led by semiconductors, which grew 50.4 percent, followed by IT equipment at 26 percent, petroleum products at 8.5 percent and passenger cars at 0.5 percent.
Exports to Southeast Asia increased 27.9 percent, to the United States 14.8 percent, and to China 1.8 percent. Imports fell 5.7 percent to $47.35 billion from $50.22 billion a year ago.
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