South Korean current surplus for September fell 11.8% year-on-year

South Korean current surplus for September fell 11.8% year-on-year

The current account surplus of South Korea in September amounted to 10.830 million dollars (9.495 million euros), which is 11.8 percent less than in the same month of 2017, mainly due to the fall in exports.

The figure represents the seventy-ninth consecutive month of positive balance in this balance for the fourth Asian economy, whose current surplus was also 4.5 percent higher in September compared to the August figure.

However, South Korean exports fell in September, which represented a year-on-year decline of 11.6 percent of the trade surplus, which added 13,240 million dollars (11,607 million euros) in September.

The fall of September was the first of this surplus since October 2016 for South Korea.

For its part, the service account maintained the deficit during the ninth month of the year, although this was 12.5 percent lower in year-on-year terms and stood at 2,520 million dollars (2,209 million euros).

The primary income account in turn added a surplus of 670 million dollars (587 million euros), although this was 46.4 percent lower than September 2017.

The secondary income registered an outflow of capital of 560 million dollars (490 million euros), practically half that of a year ago.

The balance of payments reflects payments and income from foreign trade in goods, services, income and transfers, and is considered one of the broadest trade indicators in a country.


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