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Financial News: South Korea Has $2.29 Billion Current Account Surplus

South Korea Has $2.29 Billion Current Account Surplus

07/06/2020 - 19:15:00 (RTTNews)

(RTTNews) - South Korea had a current account surplus of $2.29 billion in May, the Bank of Korea said on Tuesday - following the $3.12 billion deficit in April.

The goods account surplus narrowed to $2.50 billion, compared to $5.50 billion in May 2019. The services account deficit fell to $0.48 billion from $0.95 billion in May last year, owing to an improvement in the travel and transport account.

The primary income account surplus narrowed from $1.29 billion a year ago to $0.54 billion in May of this year, in line with a decrease in the income from dividends.

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