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S. Korea Logs Current Account Surplus for 8th Month in December

Written: 2024-02-07 09:37:22Updated: 2024-02-07 09:38:58

S. Korea Logs Current Account Surplus for 8th Month in December

Photo : YONHAP News

The nation logged a current account surplus for the eighth consecutive month in December thanks to strong exports of semiconductors and automobiles. 

According to tentative data released by the Bank of Korea on Wednesday, the current account surplus reached seven-point-41 billion dollars in December last year.

The goods account marked eight-point-04 billion dollars in December, widening from six-point-88 billion dollars logged in the previous month. 

Korea posted a current account surplus of 35-point-49 billion dollars last year, up 37-point-four percent from a year earlier. 

Exports came to 59 billion dollars in December, up five-point-eight percent from the previous year, posting growth for three straight months. 

Imports decreased nine-point-three percent on-year to 50-point-nine billion dollars in December due to a fall in the prices of imported energy.  

The services account deficit widened to two-point-54 billion dollars in December from a deficit of two-point-21 billion dollars the previous month.

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