FX.co ★ South Korea October Current Account Surplus $9.78 Billion

South Korea achieved a current account surplus of $9.78 billion in October, according to preliminary data released by the Bank of Korea on Friday. This represents a decrease from the $10.94 billion surplus reported for September, which was adjusted down from an initial estimate of $11.12 billion.

In the goods sector, the surplus amounted to $8.12 billion, with exports rising by 4.0% year-on-year to reach $60.08 billion. In contrast, imports saw a slight decline of 0.7%, totaling $51.96 billion compared to the same period last year.

The services account registered a deficit of $1.73 billion, driven by shortfalls in the manufacturing services and other business services sectors.

Meanwhile, the primary income account demonstrated a surplus of $3.45 billion, bolstered by increased income from investments in equity. The secondary income account, however, posted a deficit of $0.05 billion.