2023-09-07 23:01:00
In July, the current account surplus was $3.58 billion. It continued to be in the black for three months in a row, but the width of the surplus has decreased.
According to the ‘Statistics on Balance of International Payments (Provisional) for July 2023’ announced by the Bank of Korea today (8th), the current account balance last month was 3.58 billion dollars, and our money was counted as a surplus of about 4.781 trillion won.
The current account has recorded a surplus for three consecutive months after turning from a deficit in April to a surplus in May, but the surplus has decreased by more than $2 billion from $5.87 billion in June.
By item, the trade in goods ($4.28 billion) recorded a surplus for four months in a row.
Exports (USD 50.43 billion) decreased by 14.8% from a year ago as passenger cars (+15.7%) increased, but petroleum products (-41.8%) and semiconductors (-33.8%) decreased.
By region, exports to most regions showed a decrease, mainly in China (-25.1%) and Southeast Asia (-20.9%).
Exports have been declining year-on-year for 11 consecutive months since September last year.
Revenue ($46.15 billion) also decreased by 22.7% compared to last year.
In particular, imports of raw materials and capital goods decreased by 35.7% and 12.5%, respectively, compared to the same month last year.
The service account recorded a deficit of $2.53 billion, mainly in travel.
However, the deficit narrowed slightly from June ($2.61 billion deficit).
The primary income account recorded a surplus of $2.92 billion, mainly from dividend income, showing a surplus for three consecutive months.
Net assets (assets minus liabilities) of financial accounts increased by $3.72 billion in the month of July.
In terms of direct investment, Koreans’ overseas investment increased by 2.42 billion dollars, and foreign domestic investment increased by 1.65 billion dollars.
In securities investment, overseas investment by Koreans and domestic investment by foreigners increased by $6.9 billion and $2.6 billion, respectively.
[사진 출처 : 연합뉴스]
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