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Current Account Posts Surplus for 6th Straight Month in October

Written: 2023-12-08 08:40:39Updated: 2023-12-08 08:44:47

Current Account Posts Surplus for 6th Straight Month in October

Photo : KBS News

South Korea logged a current account surplus for the sixth consecutive month in October.

According to data from the Bank of Korea on Friday, the country’s current account surplus for the month reached six-point-eight billion U.S. dollars.

While the current account has remained in the black for six months in a row, the combined surplus for the first ten months stood at 23-point-three billion dollars, down 14-point-six percent from the same period of last year.

Individually, the goods account continued a seven-month surplus streak at five-point-35 billion dollars.

Exports increased seven-point-six percent on-year to 57 billion dollars in October, rebounding for the first time in 14 months, while imports slipped four-point-three percent on-year to 51-point-six billion dollars.

The services account deficit narrowed to one-25 billion dollars in October from a shortfall of three-point-19 billion dollars the previous month.

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