South Korea logged a current account surplus for the third consecutive month in July, albeit with a decrease compared to the previous month. 

According to data from the Bank of Korea on Friday, South Korea’s current account surplus in July reached four-point-78 trillion won, or three-point-58 billion U.S. dollars.

While the country’s trade balance remained in the black for three straight months since April, the surplus in July was more than two billion dollars less than the previous month's five-point-87 billion dollars.

Despite a cumulative current account surplus of six-point-01 billion dollars in the first seven months of 2023, the total is only one-fourth of the corresponding figure for last year.

Individually, the goods account marked four-point-28 billion dollars, showing a surplus for four straight months.

Exports decreased 14-point-eight percent on-year in July, falling for the eleventh consecutive month since last September. 

Imports slipped 22-point-seven percent on-year to 46-point-one billion dollars. 

The services account also logged a deficit of two-point-53 billion dollars in July.