SEOUL, 6th September, 2024 (WAM) -- The Republic of Korea racked up a current account surplus for the third consecutive month in July, driven by robust exports, central bank data showed Friday.
Yonhap News Agency quoted the Bank of Korea as saying that the country's current account surplus reached US$9.13 billion in July, marking a surplus for the third consecutive month.
The July surplus was smaller than the previous month's $12.56 billion, the largest since September 2017.
The country's goods account racked up an $8.49 billion surplus in July, following an $11.74 billion surplus the previous month.
The nation's outbound shipments rose 16.7 percent on-year in July to $58.64 billion, while imports increased 9.4 percent over the cited period to $50.14 billion, according to the central bank's data.
The primary income account, which tracks the wages of foreign workers, dividend payments from overseas, and interest income, reported a $3.15 billion surplus in July, following a $2.71 billion surplus in the previous month, the data showed.
The services account deficit widened to $2.38 billion in July from a deficit of $1.6 billion the previous month.