Key facts
- South Korea's current account surplus with the U.S. fell to $111.42 billion in 2025.
- The surplus with the U.S. decreased for the first time in six years.
- A widened service account deficit with the U.S. contributed to the decline.
- The goods account surplus with the U.S. increased due to semiconductor and smartphone exports.
- Deficits with China and Japan also widened in 2025.
- The overall current account surplus for South Korea increased to $123 billion in 2025.
South Korea's current account surplus with the United States experienced a decline in 2025, marking the first such decrease in six years. This shift was primarily driven by a widening deficit in the service account, despite an increase in the goods account surplus. The goods surplus rose by 2.53% to $111.98 billion, boosted by exports of semiconductors and smartphones.
However, the service account deficit with the U.S. expanded significantly to $14.62 billion in 2025, compared to $8.88 billion in the previous year. Concurrently, South Korea's current account deficits with China and Japan also widened. The deficit with China increased by 7.97% to $25.32 billion, while the deficit with Japan grew by 13% to $20.3 billion.
Conversely, South Korea saw its current account surplus with the European Union increase by 9.9% to $24.42 billion, attributed to strong export performance. The surplus with Southeast Asian nations also grew by 13.24% to $71.84 billion. The deficit with the Middle East decreased by 26.8% to $49.75 billion.
Overall, South Korea's total current account surplus for 2025 reached $123 billion, a notable increase from $99.97 billion in the preceding year. This data was released by the Bank of Korea.