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

South Korea Posts World's Second-largest Current Account Surplus in Q2

South Korea recorded the second-largest current account surplus among major economies in the second quarter, surpassing the combined surpluses of Germany and Japan. According to data from the central bank, the country's current account surplus reached a staggering $116.63 billion in the April-June period, second only to China's $193.72 billion.

Germany ranked third with a surplus of $52.28 billion, followed by Japan with $50.62 billion. Together, their combined surplus of $102.90 billion fell short of South Korea's by $13.73 billion. This marked the first time South Korea's surplus exceeded the combined figures for Germany and Japan since comparable data became available in Q1 1996.

The significant increase was driven by robust semiconductor exports, a key sector contributing to South Korea's export growth.

(Source: UrduPoint / Pakistan Point News / WAM)