S. Korea's current account surplus extends for 14th month in June on strong exports

South Korea’s current account surplus extended its positive streak for the 14th month in June thanks to solid exports amid gradual global economic recovery, central bank data showed Friday.

The country’s current account surplus stood at $8.85 billion in June, keeping the surplus streak for the 14th month in a row since May last year. The surplus is up 23.6 percent from $7.16 billion in June last year.

The cumulative surplus in the January-June period more than doubled from last year to amount to $44.3 billion.

The goods account recorded a surplus of $7.62 billion in June, up $1.4 billion from a year ago.

Exports jumped 35.9 percent to $53.63 billion and imports 38.2 percent to $46.02 billion.

The services account registered a deficit of $950 million in June but narrowed by $400 million on improvement in transportation account that turned around from deficit last year to reach an all-time high of $1.29 billion in June due to jump in shipping activity.

The primary income account, which tracks wages of foreign workers and dividend payments overseas, showed a surplus of $2.53 billion in June, up from $1.81 billion last year, on dividend income growth.

Net assets in financial account increased by $4.29 billion in June.

Direct investment of Koreans overseas added $4.07 billion while that of foreigners in Korea $2.86 billion. In securities investment, Koreans’ investment gained $4.2 billion and foreigners’ $11.63 billion.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]