Financial News: South Korea Has $5.42 Billion Current Account Surplus

South Korea Has $5.42 Billion Current Account Surplus In September

11/07/2023 - 18:16:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $5.42 billion in September, the Bank of Korea said on Wednesday - up from $4.98 billion in August.

The goods account recorded a $7.42 billion surplus, while the services account posted a $3.19 billion deficit owing to a deficit in the travel account.

The primary income account recorded a $1.57 billion surplus due to an increase in the income on equity. The secondary income account recorded a $0.38 billion deficit.

Looking at the financial account, net assets increased by $4.52 billion during September. Direct investment assets increased by $2.00 billion and direct investment liabilities increased by $0.35 billion.

There was a $6.57 billion increase in portfolio investment assets during the month, and a $1.37 billion increase in portfolio investment liabilities. Financial derivatives posted a net increase of $0.67 billion.

In terms of other investments, there was a decrease of $5.24 billion in assets and a decrease of $3.48 billion in liabilities. Reserve assets decreased by $1.24 billion.

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