Economic Buzz: South Korea Reports Current Account Surplus In May

7 Jul 2022 , 01:19 PM

South Korea had a current account surplus of $3.86 billion in May, the Bank of Korea said – following the $0.08 billion shortfall in April. The goods account surplus decreased to $2.74 billion, compared to $6.65 billion in May 2021. The services account recorded a $0.02 billion deficit, up from the $0.73 billion deficit seen one year earlier, owing to a large surplus in the transport account. Looking at the financial account, net assets increased by $3.03 billion during May 2022. Direct investment assets increased by $5.47 billion, and direct investment liabilities increased by $1.37 billion. There was a $7.13 billion increase in portfolio investment assets during the month, and a $2.46 billion increase in portfolio investment liabilities. In terms of other investments, there was an increase of $1.37 billion in assets and an increase of $5.03 billion in liabilities. Reserve assets decreased by $2.31 billion. Powered by Commodity Insights