S. Korea’s current account surplus hit $6.6b in August ’24

By Nada Ali On Oct 9, 2024

South Korea’s current account registered a surplus of $6.60 billion in August 2024, according to preliminary data released by the Bank of Korea (BOK) on Wednesday.

The goods account contributed significantly to the surplus, recording a $6.59 billion surplus. Exports increased by 7.1 per cent year-over-year to $57.45 billion, while imports rose by 4.9 per cent to $50.86 billion.

However, the services account posted a deficit of $1.23 billion, primarily due to deficits in the travel and manufacturing services sectors.

The primary income account recorded a surplus of $1.69 billion, driven by an increase in income on equity. The secondary income account posted a deficit of $0.46 billion.

Attribution: Bank of Korea statement

Subediting: Y.Yasser

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