August surplus stays above $40 billion
South Korea recorded a $46.11 billion current-account surplus in August, according to preliminary figures published by its central bank, the Bank of Korea, on October 8. July’s surplus had been $42.08 billion. August therefore extended the run of monthly surpluses above $40 billion to three months, while remaining below June’s peak of $49.73 billion. The current account includes trade in goods and services as well as income received and paid across borders.[1], [2]
During January–August the accumulated surplus was $279.20 billion, compared with $69.67 billion a year earlier. August goods exports amounted to $104.80 billion and imports to $57.99 billion, leaving a $46.81 billion goods surplus. Customs statistics showed annual export increases of 206.1 per cent for semiconductors and 366.8 per cent for computer peripherals, a category including solid-state storage drives. These customs growth rates accompany the separately compiled balance-of-payments totals. Both goods-trade values refer to August and are denominated in US dollars.[1]