November’s current account surplus of 9 billion dollars… 7 consecutive months surplus
(Seoul = Yonhap News) Reporter Shin Kyung-kyung = Exports recovered from the Corona 19 shock and gradually recovered, and imports and overseas travel decreased, while the current account continued to turn black for seven consecutive months.
According to preliminary statistics on international balance released by the Bank of Korea on the 8th, the current account in November last year was $8.97 billion (about 9,795.2 billion KRW) in the black.
Not only has it been a surplus for seven consecutive months since May last year, but the scale of the surplus has increased by 50.3% from November 2019 ($5.97 billion).
Accordingly, the cumulative current account surplus from January to November of last year was $63.9 billion. 24.9% more than the same period last year ($55.54 billion)
In November of last year, the surplus of goods accounted for the difference between imports and exports of goods was $9.54 billion, an increase of $2.15 billion from the same month last year. Exports ($47 billion) increased 1.1% from a year ago, while imports ($37.78 billion) decreased by 4.2%.
The service balance is still a deficit of $720 million, but the deficit is down by $1.17 billion from a year ago.
In particular, the travel account deficit ($500 million) decreased by $450 million. This is because the number of overseas departures has dropped 96% compared to the same month last year.
The principal income balance surplus ($420 million), which is related to wages, dividends, and interest flows, decreased by $420 million from November 2019 ($970 million) due to a decrease in dividend income.
Financial account net assets (asset-liabilities), representing capital outflows, increased by $8.95 billion in November.
In direct investment, foreign investment by Koreans increased by $3.33 billion and domestic investment by foreigners increased by $1.33 billion.
In the case of securities investment, domestic foreign investment was $9.41 billion, and foreign investors’ domestic securities investment was $4.32 billion, along with strong stock markets in major countries.
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2021/01/08 08:00 sent