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S. Korea Posts Current Account Surplus in October for Sixth Straight Month

Written: 2024-12-06 08:41:51Updated: 2024-12-06 11:29:39

S. Korea Posts Current Account Surplus in October for Sixth Straight Month

Photo : YONHAP News

The nation posted a current account surplus for the sixth consecutive month in October, on the back of robust exports of semiconductors and automobiles. 

According to tentative data from the Bank of Korea on Friday, the current account surplus came to nine-point-78 billion dollars in October.
 
The current account posted a surplus for the sixth straight month, starting in May. 

The goods account posted a surplus of eight-point-12 billion dollars in October, slowing down from a ten-point-49 billion dollar surplus the previous month.

Exports increased four percent on-year to around 60 billion dollars in October, slowing from a nine-point-five percent increase the previous month.  

Despite the continued increase in exports of semiconductors and automobiles, the expanded decline in shipments of petroleum products pulled down the growth of exports. 

Imports decreased zero-point-seven percent year-on-year to 51-point-nine billion dollars.

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