April 26, 2024

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[THE INVESTOR] Korea’s current account surplus decreased slightly in March from a year earlier, central bank data showed on May 4.

The country’s current account surplus came to US$5.18 billion in May, down from a surplus of US$5.72 billion a year ago, according to preliminary data from the Bank of Korea.

From a month earlier, the March figure gained ground from US$3.96 billion. It marked the 73rd consecutive month of a current account surplus, which started in March 2012.

The services account deficit declined to US$2.25 billion from a deficit of US$3.11 billion a year earlier as the number of foreign arrivals rose 10.7 percent on-year to 1.37 million in March, posting positive growth for the first time in 13 months.

The goods account surplus expanded to US$9.88 billion in March from US$9.36 billion a year earlier on brisk overseas sales of Korean products.

The primary income account, however, saw its deficit widen to US$1.58 billion in March from a loss of US$520 million a year earlier.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)