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2025/10/02
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Latest News:
Minister of Interior discusses with British Ambassador enhancing cooperation in security field
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Presidential Council Member Meets US Ambassador to Yemen
Basuhaib discusses with UNICEF, international partners interventions to combat malnutrition
Agriculture Ministry Deputies and French Ambassador Discuss Support for Agriculture and Fisheries Sectors
South Korea records largest current account surplus in 32 months
[06/07/2024 06:43]
SEOUL-SAB
The Bank of Korea announced on Friday that South Korea has recorded the largest current account surplus in 32 months in May, driven by a sharp increase in the trade surplus and an increase in dividend payments.
The bank said in a statement released by the Korean news agency (Yonhap) that the country's current account surplus reached $8.92 billion in May, turning from a deficit of $290 million in April.
It attributed the May surplus to a sharp increase in the country's trade surplus and an increase in dividend payments from abroad.
The May figure was the largest since September 2021 when the surplus reached $9.51 billion.
The country's goods account posted a surplus of $8.75 billion in May, marking the 14th consecutive month of surplus.
The primary income account, which tracks wages of foreign workers and dividend payments from abroad and interest income, posted a surplus of $1.76 billion in May, after a deficit of $3.33 billion in April, according to the data.
The deficit in the services account narrowed to $1.29 billion in May, from a deficit of $1.66 billion in April.
The Bank of Korea announced on Friday that South Korea has recorded the largest current account surplus in 32 months in May, driven by a sharp increase in the trade surplus and an increase in dividend payments.
The bank said in a statement released by the Korean news agency (Yonhap) that the country's current account surplus reached $8.92 billion in May, turning from a deficit of $290 million in April.
It attributed the May surplus to a sharp increase in the country's trade surplus and an increase in dividend payments from abroad.
The May figure was the largest since September 2021 when the surplus reached $9.51 billion.
The country's goods account posted a surplus of $8.75 billion in May, marking the 14th consecutive month of surplus.
The primary income account, which tracks wages of foreign workers and dividend payments from abroad and interest income, posted a surplus of $1.76 billion in May, after a deficit of $3.33 billion in April, according to the data.
The deficit in the services account narrowed to $1.29 billion in May, from a deficit of $1.66 billion in April.
Key words:
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