Preliminary balance of payments data released by the Bank of Korea on Sept. 4 said the current account surplus in July was USD 42.08 billion, a record for the month. Shown is Singamman Terminal at Busan North Port. (Busan Port Authority)

By Koh Hyunjeong

The current account surplus in July reached USD 42.08 billion, a record high for the month and driven by a large surplus in the goods account thanks to strong semiconductor exports.

Preliminary balance of payments data released by the Bank of Korea on Sept. 4 said the July black figure was the second-largest monthly surplus on record after USD 49.73 billion in June this year. The cumulative figure in the first seven months of the year reached USD 233.09 billion, a fourfold jump year on year.

The goods account finished USD 40.43 billion in the black. Exports jumped 65.3% to USD 100.45 billion.

By market, export growth was highest in China (96.2%), Southeast Asia (74.7%) and the U.S. (69.1%).

Imports expanded 21.7% to USD 60.02 billion. Those of capital goods and raw materials increased while those of consumer goods fell 3%.

hjkoh@korea.kr