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S. Korea's Current Account Surplus in September Hit 2-Year High

Written: 2020-11-05 09:13:50Updated: 2020-11-05 10:38:42

S. Korea's Current Account Surplus in September Hit 2-Year High

Photo : YONHAP News

South Korea's current account surplus hit a two-year high in September on the back of a rebound in exports despite the COVID-19 pandemic. 

According to the Bank of Korea on Thursday, the country's current account surplus reached ten-point-21 billion U.S. dollars in September.

The current account has been in the black for five straight months since the country logged a deficit in April. 

The size of the surplus topped the ten-billion-dollar mark for the first time since September 2018 when it stood at eleven-point-24 billion dollars. From a year earlier, the figure jumped by 31-point-six percent. 

The goods balance posted a surplus of 12-point-02 billion dollars in September, up three-point-32 billion dollars on-year. 

Both exports and imports posted on-year gains for the first time in seven months in September, due mainly to sharp growth in exports of semiconductors and automobiles. 

The service account logged a deficit of two-point-04 billion dollars in the month, although it narrowed by 220 million dollars from a year earlier.

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