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South Korea's 2024 Current Account Surplus Triples to $99B

2/7/2025

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Summary

Story summary

South Korea's current account surplus for 2024 hit $99.04 billion, tripling from $32.82 billion in 2023.
December 2024 achieved a record surplus of $12.37 billion, the highest for that month.
Exports grew by 6.6% to $61.38 billion, fueled by robust semiconductor sales.
Imports rose 4.2% to $52.87 billion, contributing to the overall surplus.
The services account faced a $2.11 billion deficit due to rising overseas travel demand.

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Story summary

South Korea's current account surplus for 2024 hit $99.04 billion, tripling from $32.82 billion in 2023.
December 2024 achieved a record surplus of $12.37 billion, the highest for that month.
Exports grew by 6.6% to $61.38 billion, fueled by robust semiconductor sales.
Imports rose 4.2% to $52.87 billion, contributing to the overall surplus.
The services account faced a $2.11 billion deficit due to rising overseas travel demand.