April 25, 2024
Economy
Korea posts current account surplus of US$9b in Nov.
[THE INVESTOR] South Korea posted a current account surplus for the 57th straight month in November due to increased outbound shipments, central bank data showed on Jan. 4.
According to the preliminary data from the Bank of Korea, the current account surplus reached US$8.99 billion in November, in comparison to the US$8.72 billion surplus a month earlier. However, the November figure marks a decline from US$9.84 billion a year earlier.
BOK stated that in the primary income account, the country posted a surplus of US$440 million in November, down from the surplus of US$610 million a year earlier. Meanwhile, service balance deficit widened to US$1.74 billion in November from US$1.22 billion a year earlier.
Exports increased 7.7 percent on-year to US$46.46 billion in November, and imports also rose 10.6 percent to US$35.94 billion.
(theinvestor@heraldcorp.com)
According to the preliminary data from the Bank of Korea, the current account surplus reached US$8.99 billion in November, in comparison to the US$8.72 billion surplus a month earlier. However, the November figure marks a decline from US$9.84 billion a year earlier.
BOK stated that in the primary income account, the country posted a surplus of US$440 million in November, down from the surplus of US$610 million a year earlier. Meanwhile, service balance deficit widened to US$1.74 billion in November from US$1.22 billion a year earlier.
Exports increased 7.7 percent on-year to US$46.46 billion in November, and imports also rose 10.6 percent to US$35.94 billion.
(theinvestor@heraldcorp.com)
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