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S. Korea logs current account surplus for 3rd month in July
By YonhapPublished : Sept. 6, 2024 - 09:16
South Korea racked up a current account surplus for the third consecutive month in July, driven by robust exports, central bank data showed Friday.
The country's current account surplus reached $9.13 billion in July, marking a surplus for the third consecutive month, according to data compiled by the Bank of Korea.
The July surplus was smaller than the previous month's $12.56 billion, the largest since September 2017.
The country's goods account racked up an $8.49 billion surplus in July following a $11.74 billion surplus the previous month.
The nation's outbound shipments rose 16.7 percent on-year in July to $58.64 billion, while imports increased 9.4 percent over the cited period to $50.14 billion, according to the central bank's data.
The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, reported a $3.15 billion surplus in July, following a $2.71 billion surplus the previous month, the data showed.
The services account deficit widened to $2.38 billion in July from a deficit of $1.6 billion the previous month, they showed. (Yonhap)
