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Financial News: South Korea Has $7.16 Billion Current Account Surplus

South Korea Has $7.16 Billion Current Account Surplus In November

01/10/2022 - 18:44:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $7.16 billion in November, the Bank of Korea said on Tuesday - up from $6.95 billion in October.

The goods account surplus decreased to $5.95 billion, compared to the $9.95 billion figure in November 2020.

The services account deficit fell to $0.14 billion, from $0.98 billion in November last year, owing to an improvement in the transport account.

The primary income account surplus increased from $0.48 billion the year previously to $1.49 billion in November 2021.

The secondary income account saw a $0.14 billion deficit.

Looking at the financial account, net assets increased by $6.54 billion in November.

Direct investment assets increased by $5.35 billion, and direct investment liabilities decreased by $0.97 billion.

There was a $6.55 billion increase in portfolio investment assets during the month, and a $2.95 billion increase in portfolio investment liabilities.

Financial derivatives posted a net increase of $0.31 billion.

In terms of other investments, there was a decrease of $2.22 billion in assets and a decrease of $0.96 billion in liabilities.

Reserve assets decreased by $2.43 billion.

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