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Financial News: South Korea Posts $3.86 Billion Current Account Surplus

South Korea Posts $3.86 Billion Current Account Surplus In May

07/06/2022 - 19:25:00 (RTTNews)

(RTTNews) - South Korea had a current account surplus of $3.86 billion in May, the Bank of Korea said on Thursday - following the $0.08 billion shortfall in April.

The goods account surplus decreased to $2.74 billion, compared to $6.65 billion in May 2021.

The services account recorded a $0.02 billion deficit, up from the $0.73 billion deficit seen one year earlier, owing to a large surplus in the transport account.

The primary income account surplus decreased from $5.03 billion the year previously to $1.45 billion in May 2022.

The secondary income account recorded a $0.32 billion deficit.

Looking at the financial account, net assets increased by $3.03 billion during May 2022.

Direct investment assets increased by $5.47 billion, and direct investment liabilities increased by $1.37 billion.

There was a $7.13 billion increase in portfolio investment assets during the month, and a $2.46 billion increase in portfolio investment liabilities.

Financial derivatives posted a net increase of $0.22 billion.

In terms of other investments, there was an increase of $1.37 billion in assets and an increase of $5.03 billion in liabilities.

Reserve assets decreased by $2.31 billion.

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