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Financial News: South Korea Has $4.33 Billion Current Account Surplus

South Korea Has $4.33 Billion Current Account Surplus

02/05/2020 - 19:17:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $4.33 billion in December, the Bank of Korea said on Thursday - down from $5.97 billion in November.

The goods account surplus narrowed to $5.03 billion, compared to $6.63 billion in December 2018.

The services account deficit was $2.50 billion, higher than $1.85 billion one year before, owing to a deterioration in the transport account.

The primary income account surplus was $2.68 billion, up from $0.88 billion one year earlier, in line with an improvement in the income on equity account.

The secondary income account recorded a $0.87 billion deficit

In the financial account, net assets expanded by $5.71 billion during December. Direct investment assets grew by $4.16 billion, and direct investment liabilities increased by $3.40 billion.

There was a $3.73 billion increase in portfolio investment assets during the month, and a $5.51 billion decrease in portfolio investment liabilities.

Financial derivatives posted a net increase of $0.22 billion.

In terms of other investments, there was a decrease of $3.70 billion in assets and an increase of $0.26 billion in liabilities.

Reserve assets decreased by $0.56 billion.

For all of 2019, South Korea saw a current account surplus of $59.97 billion.

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