S. Korea posts current account surplus for 80 months

Source: Xinhua| 2018-12-06 15:14:49|Editor: xuxin
Video PlayerClose

SEOUL, Dec. 6 (Xinhua) -- South Korea posted current account surplus for 80 months through October thanks mainly to robust export, which accounts for about half of the export-driven economy, central bank data showed Thursday.

Current account surplus amounted to 9.19 billion U.S. dollars in October, keeping the surplus trend for 80 months since March 2012, according to the Bank of Korea (BOK). It was the longest surplus ever recorded by the economy.

Trade surplus for goods was 11 billion dollars in October. Export jumped 28.8 percent over the year to reach a new monthly high of 57.24 billion dollars in October on demand for locally-made machinery and oil products.

Services account balance logged a deficit of 2.22 billion dollars in October, down from a deficit of 3.53 billion dollars tallied in the same month of last year.

The travel account deficit was 950 million dollars in the month, the lowest in 23 months amid the rising number of Chinese and Japanese travelers to the country.

Primary income account, which measures dividend and interest income as well as salary, recorded a surplus of 960 million dollars in October.

Financial account, which gauges cross-border capital flow without transactions in goods and services, logged a net inflow of 10.59 billion dollars in the month.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001376551221