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S. Korea logs current account surplus for 14th month in June on robust exports

All News 08:00 August 06, 2021

By Kim Soo-yeon

SEOUL, Aug. 6 (Yonhap) -- South Korea posted a current account surplus for the 14th straight month in June as exports remained solid amid the global economic recovery, the central bank said Friday.

The current account surplus reached US$8.85 billion in June, compared with $10.76 billion the previous month, according to the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.

The current account has been in the black since the country suffered a deficit of $3.33 billion in April last year on faltering exports caused by the pandemic.

In the first half, the accumulative surplus amounted to $44.34 billion.

The goods balance logged a surplus of $7.62 billion in June, larger than a surplus of $6.37 billion the previous month.

Exports, which account for half of the South Korean economy, rose 35.9 percent on-year to $53.63 billion, while imports increased 38.2 percent to $46.02 billion.

This photo, taken Aug. 2, 2021, shows stacks of containers at a port in South Korea's southeastern city of Busan. (Yonhap)


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