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Financial News: South Korea Has $6.06 Billion Current Account Surplus

South Korea Has $6.06 Billion Current Account Surplus In August

09/28/2017 - 20:51:00 (RTTNews)

(RTTNews) - South Korea saw a current account surplus of $6.06 billion in August, the Bank of Korea said on Friday - down from $7.26 billion in July.

The goods account surplus widened to $9.31 billion, compared to $6.94 billion in August of last year.

The services account saw a deficit of $2.33 billion, higher than the $1.50 billion figure in August 2016 due to deteriorations in the transport and the travel accounts, the bank said.

The primary income account reversed from its $0.53 billion surplus in August of last year to a deficit of $0.08 billion this year, in line with an increase in the payments on equity account.

The secondary income account showed a $0.84 billion deficit.

In the financial account there was an overall $9.13 billion increase in net assets in August.

Direct investment assets grew by $2.99 billion, and direct investment liabilities by $1.41 billion.

There was a $5.13 billion expansion in portfolio investment assets during the month, and a $6.33 billion decline in portfolio investment liabilities.

Financial derivatives posted a net contraction of $0.70 billion.

In terms of other investment, there was a decrease of $1.65 billion in assets and an increase of $2.54 billion in liabilities.

Reserve assets grew by $0.35 billion.

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