South Korea Current Account Surplus Climbs To $11.66 Billion

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South Korea posted a current account surplus of $11.66 billion in October, the Bank of Korea said on Friday – up from $10.21 billion in September.

The goods account surplus widened to $10.15 billion, compared to the $8.03 billion in October 2019.

The services account deficit decreased to $0.66 billion, from $1.72 billion in October last year, owing to an improvement in the travel and transport accounts.

The primary income account surplus widened from $1.83 billion in 2019 to $2.45 billion in October of this year, in line with the increase in the investment income.

The secondary income account recorded a $0.28 billion deficit.

Looking at the financial account, net assets increased by $15.94 billion during October.

Direct investment assets increased by $1.10 billion, and direct investment liabilities increased by $0.95 billion.

There was a $4.18 billion increase in portfolio investment assets during the month, and a $3.92 billion increase in portfolio investment liabilities.

Financial derivatives posted a net decrease of $0.65 billion.

In terms of other investments, there was an increase of $11.10 billion in assets and a decrease of $0.15 billion in liabilities.

Reserve assets increased by $4.92 billion.

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