Economic Buzz: South Koreas Current Account Surplus Falls To $1.09 Billion In July

7 Sep 2022 , 11:31 AM

South Korea had a current account surplus of $1.09 billion in July, the Bank of Korea reported – down from $5.61 billion in June. The goods account saw a $1.18 billion deficit, down from the $5.55 billion surplus a year earlier. The services account recorded a $0.34 billion surplus, up from the $0.28 billion deficit in 2021, owing to a large surplus in the transport account. The primary income account surplus fell from $2.84 billion last year to $2.27 billion in July 2022. The secondary income account saw a $0.34 billion deficit. Looking at the financial account, net assets increased by $0.18 billion during July 2022. There was a $3.24 billion increase in portfolio investment assets during the month, and a $4.22 billion increase in portfolio investment liabilities. In terms of other investments, there was a decrease of $2.71 billion in assets and an increase of $1.92 billion in liabilities. Reserve assets increased by $1.66 billion.Powered by Commodity Insights