South Korea July Current Account Surplus $8.76 Billion

South Korea July Current Account Surplus $8.76 Billion

South Korea posted a current account surplus of $8.76 billion in July, the Bank of Korea said on Thursday.

That follows the $7.38 billion surplus in June.

The goods account showed an $11.43 billion surplus, up from $10.59 billion a year earlier.

The services account deficit was $3.12 billion, down from $3.29 billion a year earlier — in line with an improvement in the travel account, the bank said.

The primary income account surplus widened to $1.22 billion, up from $0.68 billion a year earlier — owing to an improvement in the interest income amount.

The secondary income account showed a $0.77 billion deficit.

In the financial account, net assets jumped $10.46 billion in July.

Direct investment assets grew $2.67 billion and direct investment liabilities added $0.41 billion.

There was a $1.52 billion increase in portfolio investment assets and a $4.73 billion gain in portfolio investment liabilities.

Financial derivatives posted a net increase of $1.09 billion.

In terms of other investment, there was an expansion of $8.50 billion in assets and a decline of $0.33 billion in liabilities,

Reserve assets increased by $1.49 billion.

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