April 25, 2024

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[THE INVESTOR] South Korea’s current account surplus rose in February from a year earlier, central bank data showed on April 5.

It reached US$8.4 billion in February, compared with a surplus of US$7.62 billion a year earlier, according to the preliminary data from the Bank of Korea.

The figure represents a surplus for 60 months in a row. The current account is the biggest measure of cross-border trade. The BOK said the goods account surplus widened to US$10.55 billion, up from US$7.93 billion a year earlier.

Meanwhile, the services account deficit widened to US$2.23 billion from a deficit of US$1.16 billion a year earlier due to a rise in overseas trips.

The primary income account surplus narrowed to US$630 million in February from a surplus of US$830 million a year earlier.

Exports rose 23 percent on-year to US$44.63 billion in February, with imports surging 20.2 percent to US$34.08 billion.

By Alex Lee and newswires (alexlee@heraldcorp.com)