S. Korea’s current account surplus forecast to hit $73b – BOK

South Korea’s current account surplus is projected to reach a significant $73 billion this year, surpassing the previous forecast of $60 billion, as per a statement released by the Bank of Korea (BOK) on Sunday.

Next year, the surplus is expected to remain strong at $62 billion, slightly higher than the previous estimate of $61 billion. The trade surplus in goods is anticipated to widen, driven by continued growth in exports, particularly in semiconductors.

Imports are expected to recover more slowly than anticipated due to the delayed recovery in domestic demand. The trade deficit in services is projected to narrow, supported by a strong inflow of foreign.

Attribution: Bank of Korea report

Subediting: Y.Yasser