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S. Korea's current account surplus increases to US$8.4 bln in Feb

All News 08:18 April 05, 2017

SEOUL, April 5 (Yonhap) -- South Korea's current account surplus rose in February from a year earlier due to an increased surplus in the goods account, central bank data showed Wednesday.

The country's current account surplus reached US$8.4 billion in February, compared with a surplus of $7.62 billion a year earlier, according to the preliminary data from the Bank of Korea (BOK).

The figure represents a surplus for 60 months in a row. The current account is the biggest measure of cross-border trade.

The BOK said the goods account surplus widened to $10.55 billion, up from $7.93 billion a year earlier.

Meanwhile, the services account deficit widened to $2.23 billion from a deficit of $1.16 billion a year earlier due to a rise in overseas trips.

The primary income account surplus narrowed to $630 million in February from a surplus of $830 million a year earlier.

Exports rose 23 percent on-year to $44.63 billion in February, with imports surging 20.2 percent to $34.08 billion.


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