South Korea posts $11.1 billion current account surplus in September

By Kim Dong-young Posted : November 7, 2024, 10:39 Updated : November 7, 2024, 10:39
This photo shows an employee stacking dollars at Hana Bank on Nov. 5, 2024. Yonhap
 
SEOUL, November 7 (AJP) - South Korea's current account surplus reached 15.58 trillion won (US$11.1 billion) in September, marking its fifth consecutive month in the black, driven by robust exports, the Bank of Korea said on Thursday.

The surplus was nearly double the $6.52 billion recorded in August and stands as the third-largest September figure on record.

Outbound shipments rose 9.9 percent from a year earlier to $61.67 billion, extending gains for the 12th straight month, while imports increased 4.9 percent over the cited period to $51 billion, according to the central bank's data.

The service account deficit narrowed to $2.24 billion from $3.21 billion a year earlier, while the primary income account surplus expanded to $3.09 billion from $1.69 billion in August, primarily due to reduced dividend payments to foreign investors.
Kim Dong-young

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