SEOUL, Feb. 15 (Xinhua) -- South Korea posted a current account surplus for 21 straight years through 2018 thanks to an increased export of semiconductors, central bank data showed Friday.
Current account surplus, the broadest measure of cross-border trade, amounted to 76.41 billion U.S. dollars in 2018, up from 75.23 billion dollars in the previous year, according to the Bank of Korea (BOK).
The country's current account balance stayed in the black since 1998 when the foreign exchange crisis hit the Asian economy.
Trade surplus in goods reached 111.87 billion dollars in 2018 as export, which accounts for about half of the export-driven economy, expanded 7.8 percent to reach a record high of 625.44 billion dollars.
The export expansion was attributable to strong demand for locally-made chips. Import gained 10 percent to 513.57 billion dollars on the increased global trade.
Services account balance, which measures the flow of travel, transport costs and royalties, posted a deficit of 29.74 billion dollars last year, the second-biggest yearly deficit in the services sector.
The services trade deficit reached a second-biggest figure of 16.65 billion dollars amid a lower growth in the number of the Chinese tourists to South Korea.
Primary income account, which includes monthly salary and investment income, saw a surplus of 2.78 billion dollars in 2018. The dividend payment reached a new high of 22.36 billion dollars on a rise in corporate earnings.
Financial account, which gauges cross-border capital flow without transactions in goods and services, logged a net outflow of 70.49 billion dollars in 2018.
Overseas direct investment by local residents hit a new yearly high of 38.92 billion dollars, while direct investment in South Korea by foreigners recorded the second-biggest reading of 14.48 billion dollars.
For the portfolio investment, which includes stock and bond transactions, overseas investment by residents climbed 64.99 billion dollars. Foreign investment in local stocks and bonds grew 21.11 billion dollars.
In December alone, the current account surplus was 4.82 billion dollars. It was the lowest surplus in eight months, but the current account balance stayed in the black for the longest period of 80 months.
Trade surplus for goods came in at 6.53 billion dollars in December, marking the lowest in 10 months as export fell for the first time in three months.
Services account balance logged a deficit of 1.95 billion dollars in December, but it was the lowest deficit in about two years.
The financial account posted a net outflow of 5.44 billion dollars in December on rises in overseas direct investment and portfolio investment by local residents. Enditem
