February’s current account surplus of $8 billion, compared with the same month of the previous year, $1.62 billion↑
Commodity account surplus of $550 million ↓, service account surplus
The current account remained surplus for 10 consecutive months due to the surge in ship and air freight rates and increase in dividend income.
According to preliminary statistics on international balance released by the Bank of Korea on the 7th, the current account in February was estimated to be a surplus of $8.30 billion (about KRW 9.5.6 trillion).
Not only has it been a surplus for the 10th month since May last year, but it has increased by $1.62 billion from the same month last year ($6.41 billion).
The commodity account surplus was $60.5 billion, down $550 million from the same month last year ($6.6 billion).
Compared to a year ago, exports ($44.71 billion) increased by 9.2% ($37.7 billion) and imports ($3.86 billion) increased by 12.6% ($4.31 billion).
The service balance recorded a surplus of $130 million.
It turned to a surplus, increasing by $1.57 billion from February of last year ($1.44 billion).
In particular, thanks to the surge in shipping and air freight rates, the transportation balance turned from a $20 million deficit in February of last year to a surplus of $810 million in February of this year.
The travel deficit ($340 million) decreased by $130 million.
This is a 93.5% decrease in the number of departures from the same month last year due to the corona 19 effect.
The principal income balance surplus ($2.12 billion) also rose by $900 million from a year ago, thanks to an increase in dividend income.
Financial account net assets (assets-liabilities) increased by $7.43 billion in February.
In the case of direct investment, foreign investment by Koreans increased by $3.33 billion, while domestic investment by foreigners decreased by $130 million.
In securities investment, domestic foreign investment increased by $9.38 billion, and foreign investment in domestic securities increased by $7 billion.
/yunhap news
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