S. Korea's Q2 current account surplus ranks 2nd on robust chip exports

What happened: South Korea recorded the second-largest current account surplus among major economies in the second quarter, exceeding the combined surpluses of Germany and Japan, per central bank data. Key numbers: Surplus was $116.63 billion in April-June, behind China's $193.72 billion. Why it matters: It was the first time South Korea's surplus exceeded the combined figures for Germany and Japan since comparable data began in the first quarter of 1996. The increase was largely driven by surging semiconductor exports amid rising chip prices and robust global demand.

South Korea recorded the second-largest current account surplus among major economies in the second quarter, exceeding the combined surpluses of Germany and Japan, per central bank data.

It was the first time South Korea's surplus exceeded the combined figures for Germany and Japan since comparable data began in the first quarter of 1996. The increase was largely driven by surging semiconductor exports amid rising chip prices and robust global demand.