S. Korea posts current account surplus of $12.26b in June
South Korea’s current account registered a surplus of $12.26 billion in June, driven by a robust performance in the goods account, the Bank of Korea (BOK) reported on Wednesday.
The goods account contributed significantly to the overall surplus, recording a $11.47 billion surplus. Exports grew by 8.7 per cent year-on-year to $58.82 billion, while imports declined by 5.7 per cent to $47.35 billion.
However, the services account posted a deficit of $1.62 billion, primarily due to losses in the travel and other business services sectors.
The primary income account generated a surplus of $2.69 billion, driven by increased income on equity. The secondary income account recorded a smaller deficit of $0.28 billion.
Turning to the financial account, net assets jumped by $12.24 billion during June. Direct investment assets grew by $4.89 billion, and liabilities decreased by $0.37 billion, resulting in a net increase of $5.26 billion.
Portfolio investment assets surged by $6.63 billion, while liabilities contracted by $2.39 billion, leading to a net increase of $9.03 billion. Financial derivatives contributed a net increase of $2.01 billion.
Other investments saw a net decrease of $4.21 billion due to a decline in assets of $3.81 billion and an increase in liabilities of $0.40 billion. Reserve assets increased by $0.15 billion.
Attribution: Bank of Korea’s report
