SEOUL: The Republic of Korea logged a current account surplus for the eighth straight month in December on the back of an increased trade surplus and increased dividends from overseas, central bank data showed Wednesday.
According to Yonhap news agency, the country’s current account surplus reached US$7.41 billion in December, following the surplus of $3.89 billion.
December’s surplus came as the country’s trade balance has remained in the black.
The country’s goods account racked up an $8.04 billion surplus in December, following a $6.88 billion surplus the previous month.
The nation’s outbound shipments rose 5 percent on-year in December to $57.61 billion, while imports dropped 10.8 percent over the cited period to $53.16 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 $2.46 billion surplus in December, following a $120 million loss in November, the data showed.
The ser
vices account deficit widened to $2.54 billion in December from a deficit of $2.21 billion the previous month, the data showed.
Source: Emirates News Agency