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Korea posts sixth straight month of current account surplus in October

Published: 06 Dec. 2024, 10:44

Containers are stacked at a port in Korea's southeastern city of Busan. [YONHAP]

Korea reported a current account surplus for the sixth consecutive month in October, driven by robust exports, central bank data showed Friday.

The country's current account surplus reached $9.78 billion in October, following a $10.94 billion surplus the previous month, according to preliminary data compiled by the Bank of Korea (BOK).

The goods account racked up a $8.12 billion surplus, as exports rose 4 percent on year to $60.08 billion, while imports shed 0.7 percent to $51.96 billion.

The services account, however, registered a $1.73 billion deficit in October, though the figure narrowed from a $2.24 billion deficit a month earlier.

The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, logged a $3.45 billion surplus in October, following the previous month's $3.09 billion surplus, the data showed.

Yonhap