SEOUL, 8th October, 2024 (WAM) -- The Republic of Korea racked up a current account surplus for the fourth consecutive month in August, driven by robust exports, central bank data showed Tuesday.
Yonhap News Agency quoted the Bank of Korea as saying that the country's current account surplus reached US$6.6 billion in August, marking a surplus for the fourth consecutive month.
The August surplus was smaller than the previous month's $8.97 billion.
The country's goods account racked up a $6.59 billion surplus in August following an $8.33 billion surplus the previous month.
The nation's outbound shipments rose 7.1 percent on-year in August to $57.45 billion, while imports increased 4.9 percent over the cited period to $50.86 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 $1.69 billion surplus in August, following a $3.15 billion surplus the previous month, the data showed.
The services account deficit narrowed to $1.23 billion in August from a deficit of $2.38 billion the previous month, it showed.