Delivery containers are stacked at a port within the southeastern metropolis of Busan. (Getty Pictures)
South Korea racked up a present account surplus for the fourth consecutive month in August, pushed by sturdy exports, central financial institution knowledge confirmed Tuesday.
The nation’s present account surplus reached $6.6 billion in August, marking a surplus for the fourth consecutive month, in line with knowledge compiled by the Financial institution of Korea.
The August surplus was smaller than the earlier month’s $8.97 billion.
The nation’s items account racked up a $6.59 billion surplus in August following an $8.33 billion surplus the earlier month.
The nation’s outbound shipments rose 7.1 p.c on-year in August to $57.45 billion, whereas imports elevated 4.9 p.c over the cited interval to $50.86 billion, in line with the central financial institution’s knowledge.
The first earnings account, which tracks the wages of international employees, dividend funds from abroad and curiosity earnings, reported a $1.69 billion surplus in August, following a $3.15 billion surplus the earlier month, the info confirmed.
The companies account deficit narrowed to $1.23 billion in August from a deficit of $2.38 billion the earlier month, it confirmed.
Within the first eight months of the 12 months, the nation’s present account surplus reached $53.6 billion, far larger than the $10.67 billion throughout the identical interval of final 12 months.
The central financial institution mentioned the excess will proceed all through this 12 months. (Yonhap)
