Source: Yonhap
South Korea recorded a current account surplus for the fifth straight month in September on the back of a widening trade surplus and increased dividends from abroad, central bank data showed Wednesday.
The country’s current account surplus reached US$5.42 billion in September, after a surplus of US$4.98 billion in August, according to preliminary data released by the Bank of Korea.
The September surplus came as the country’s trade balance achieved a surplus for six consecutive months and interest income increased.
The country’s goods account achieved a surplus of $7.42 billion in September, after a surplus of $5.21 billion in the previous month.
The data showed that the primary income account, which tracks wages of foreign workers, dividend payments from abroad and interest income, recorded a surplus of $1.57 billion in September, after a surplus of $1.46 billion in August.
The data showed that the services account incurred an extended loss of $3.19 billion in September from a deficit of $1.57 billion in the previous month.