SEOUL, 6th December, 2024 (WAM) -- The Republic of Korea reported a current account surplus for the sixth consecutive month in October, driven by strong sales of semiconductors and cars, central bank data showed Friday.
Yonhap News Agency quoted the Bank of Korea as saying that the country's current account surplus reached US$9.78 billion in October, following a $10.94 billion surplus the previous month.
The country has recorded a current account surplus since May, and the accumulated surplus for the first 10 months of the year has more than tripled to $74.24 billion from the same period of last year.
The goods account racked up an $8.12 billion surplus, marking the 19th consecutive month of surplus, though the surplus narrowed from the previous month's $10.49 billion.
The services account, however, registered a $1.73 billion deficit in October, though the figure narrowed from a $2.24 billion deficit a month earlier.
The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, logged a $3.45 billion surplus in October, following the previous month's $3.09 billion surplus, the data showed.