Financial News: South Korea July Current Account Surplus $9.13 Billion

South Korea July Current Account Surplus $9.13 Billion

09/05/2024 - 19:10:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $9.13 billion in July, the Bank of Korea said on Friday - down from $12.26 billion in June.

The goods account saw an $8.49 billion surplus as exports increased annually by 16.7 percent to $58.63 billion and imports increased 9.4 percent to $50.14 billion.

The services account posted a $2.38 billion deficit owing to deficits in the travel and in the other business services accounts.

The primary income account had a $3.15 billion surplus due to an increase in the income on equity. The secondary income account saw a $0.13 billion deficit.

Looking at the financial account, net assets increased by $11.03 billion during July. Direct investment assets increased by $4.33 billion and direct investment liabilities increased by $2.99 billion, resulting in a net increase of $1.35 billion.

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