S. Korea logs current account surplus for 3rd month in July


South Korea's current account surplus in July was $9.13 billion, marking the third consecutive month of surplus, driven by strong exports, as reported by the Bank of Korea. This figure was lower than the previous month's surplus of $12.56 billion, which was the largest since September 2017. The goods account contributed a surplus of $8.49 billion in July, following a surplus of $11.74 billion the previous month. Outbound shipments increased by 16.7 percent year-on-year to $58.64 billion, while imports rose by 9.4 percent to $50.14 billion. Additionally, the primary income account reported a surplus of $3.15 billion in July, up from $2.71 billion the previous month, while the services account saw its deficit widen to $2.38 billion from $1.6 billion. In summary, South Korea maintained a current account surplus of $9.13 billion in July, the third consecutive month of surplus, driven by strong exports. The goods account contributed a surplus of $8.49 billion, while the primary income account reported a surplus of $3.15 billion. However, the services account saw its deficit widen to $2.38 billion in July.


Previous Post Next Post