Korea posted a current account surplus for the 16th straight month in August as exports remained robust and revenue from cargo shipping rose amid the global economic recovery, the central bank said Thursday.
Korea reported its 15th current account surplus in a row in July, led by a record surplus in the transport account.
Korea reported its 12th current account surplus in a row in April, $1.91 billion, thanks to buoyant exports.
Korea logged a $7.06 billion current account surplus in January, the ninth consecutive positive monthly reading. The latest surplus was largely driven by strong exports, especially of automobiles and semiconductors.
Korea's current account surplus hit an eight-month high in June as the pace of export falls slowed amid major countries' economic reopenings following the pandemic-caused lockdowns, central bank data showed Thursday.
Korea’s current account went into the red in April for the first time in 12 months as exporters took a hard hit from the global economic downturn resulting from the coronavirus pandemic.
Korea’s current account balance came in at $6.2 billion in March, its 11th consecutive month in surplus, Bank of Korea data showed Thursday. The balance could deteriorate in April, the central bank said, as exports weakened from mid-March as a result