April 18, 2024
Economy
Korea’s current account surplus rises to US$4b
[THE INVESTOR] Korea’s current account surplus rose slightly in April from a year earlier, central bank data showed on June 5.
The country’s current account surplus reached US$4 billion in April, compared with a surplus of US$3.76 billion tallied a year ago, according to the preliminary data from the Bank of Korea.
The figure represents a surplus for 62 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$11.93 billion, up from US$9.85 billion a year earlier on the back of the country’s brisk overseas sales.
Asia’s fourth-largest economy saw its outbound shipments soar 24.1 percent in April on recovering global trade, with its imports growing 17.3 percent on-year.
Meanwhile, the services account deficit widened to US$2.38 billion in April from a deficit of US$1.53 billion a year earlier due to a rise in overseas trips.
The primary income account surplus also expanded to US$5.03 billion in April from a surplus of US$4.06 billion the previous year.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The country’s current account surplus reached US$4 billion in April, compared with a surplus of US$3.76 billion tallied a year ago, according to the preliminary data from the Bank of Korea.
The figure represents a surplus for 62 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$11.93 billion, up from US$9.85 billion a year earlier on the back of the country’s brisk overseas sales.
Asia’s fourth-largest economy saw its outbound shipments soar 24.1 percent in April on recovering global trade, with its imports growing 17.3 percent on-year.
Meanwhile, the services account deficit widened to US$2.38 billion in April from a deficit of US$1.53 billion a year earlier due to a rise in overseas trips.
The primary income account surplus also expanded to US$5.03 billion in April from a surplus of US$4.06 billion the previous year.
By Alex Lee and newswires (alexlee@heraldcorp.com)
