South Korea Has $7.43 Billion Current Account Surplus

South Korea posted a current account surplus of $7.43 billion in November, the Bank of Korea said on Friday – up from 5.72 billion in October.

The goods account surplus widened to $11.46 billion compared to the $9.69 billion surplus for November of 2016.

The services account deficit increased to $3.27 billion from $1.81 billion in November 2016, owing to deterioration in the travel account.

The primary income account reversed from its $0.37 billion surplus in November of last year to a deficit of $0.07 billion this year, in line with an increase in the payments on equity account.

The secondary income account showed a $0.70 billion deficit.

In the financial account, there was an overall $10.44 billion increase in net assets in November.

Direct investment assets grew by $2.78 billion, and direct investment liabilities by $2.85 billion.

There was a $4.83 billion expansion in portfolio investment assets during the month, and a $2.73 billion increase in portfolio investment liabilities.

Financial derivatives posted a net contraction of $0.88 billion.

In terms of other investment, there was an increase in assets of $8.44 billion, and an increase in liabilities of $0.53 billion.

Reserve assets expanded by $1.37 billion.

by RTT Staff Writer

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