Doha: South Korea logged the largest current account surplus for any July driven by solid exports and an increase in income from equity, central bank data showed Thursday. The country’s current account surplus reached US$10.78 billion in July, extending its surplus streak to the 27th consecutive month.

According to Qatar News Agency, South Korea has reported a current account surplus every month since May 2023. While it marked the highest July figure on record, the surplus narrowed from the all-time monthly high of $14.27 billion posted in June. During the first seven months of this year, the cumulative current account surplus stood at $60.15 billion, compared with $49.21 billion recorded during the same period last year.

The goods account logged a $10.27 billion surplus in July, as exports advanced 2.3 percent from a year earlier to $59.78 billion, while imports edged down 0.9 percent to $49.51 billion. The services account registered a $2.14 billion deficit due mainly to rising demand for overseas travel. The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, logged a $2.95 billion surplus in July, the data showed.