Financial News: South Korea Has $11.12 Billion Current Account Surplus

South Korea Has $11.12 Billion Current Account Surplus

11/06/2024 - 18:14:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $11.12 billion in September, the Bank of Korea said on Thursday - up from $6.60 billion in August.

The goods account recorded a $10.67 billion surplus as exports increased annually by 9.9 percent to $61.67 billion and as imports rose 4.9 percent to $51.00 billion, both compared to one year earlier.

The services account posted a $2.24 billion deficit owing to deficits in the travel, the manufacturing services, and the use of intellectual property accounts.

The primary income account recorded a $3.09 billion surplus due to an increase in the income on equity. The secondary income account recorded a $0.39 billion deficit.

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