November’s current account surplus of 9 billion dollars… 7 consecutive months surplus
As exports recovered from the Corona 19 shock and gradually recovered, imports and overseas travel declined, the current account remained in surplus for 7 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.
/yunhap news
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