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S. Korea Posts Current Account Surplus for 18th Month in Oct.

Written: 2021-12-07 08:48:18Updated: 2021-12-07 10:21:25

S. Korea Posts Current Account Surplus for 18th Month in Oct.

Photo : YONHAP News

South Korea posted a current account surplus for the 18th consecutive month in October on the back of a record surplus in the transport account. 

According to tentative data from the Bank of Korea(BOK) on Tuesday, the country's current account surplus came to six-point-95 billion U.S. dollars in October. 

It’s the 18th straight month a surplus has been logged since May last year but the amount decreased by four-point-six billion dollars from a year ago. 

Exports rose by 20-point-one percent on-year to 55-point-nine billion dollars, while imports jumped 38-point-two percent to 50-point-three billion dollars.  

The service sector logged a surplus of 630 million dollars in October, a turnaround from a deficit of 830 million dollars a year ago. 

The surplus in the service sector was driven by a spike in the transport account surplus, which posted a record high of two-point-22 billion dollars in October, soaring from a surplus of 480 million dollars a year earlier.

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