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Financial News: South Korea Current Account Surplus Jumps To $7.26

South Korea Current Account Surplus Jumps To $7.26 Billion

09/04/2017 - 20:16:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $7.26 billion in July, the Bank of Korea said on Tuesday - following the $7.01 billion surplus in June.

The goods account surplus widened to $10.71 billion, compared to $10.67 billion in July of last year.

The services account saw a deficit of $3.29 billion, following the $1.58 billion figure a year earlier due to deterioration in the travel account, the bank said.

The primary income account reversed from its $0.05 billion deficit in July of last year to a surplus of $0.58 billion this year, in line with a decrease in the payments on equity account.

The secondary income account showed a $0.73 billion deficit.

In the financial account, there was an overall $9.77 billion increase in net assets in July.

Direct investment assets gained $0.74 billion, and direct investment liabilities picked up $0.34 billion.

There was a $6.86 billion increase in portfolio investment assets in July, and a $3.66 billion rise in portfolio investment liabilities.

Financial derivatives saw a net contraction of $0.22 billion.

In terms of other investment, there were increases of $6.40 billion in assets and $0.14 billion in liabilities. Reserve assets grew $0.13 billion.

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