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Current account surplus tops US$4 billion in September

Source : Bank of Korea

The following is a press release dated Oct. 28. For more, click DOWNLOAD.

Bank of Koreao The current account surplus in September 2009 was 4.20 billion dollars, an increase from the previous month’s 1.91 billion dollars, as the goods account surplus widened.

   - The goods account surplus amounted to 5.45 billion dollars, up from the previous month’s 3.33 billion dollars.

   - The services account deficit narrowed to 1.63 billion dollars, from 1.79 billion dollars a month earlier, as the travel account deficit shrank and the transport account surplus widened.

   - The income account surplus registered 0.55 billion dollars, down from 0.59 billion dollars in August due to a decrease in dividend receipts.

   - The current transfers account deficit declined to 0.16 billion dollars from the previous month’s 0.22 billion dollars.

o The capital and financial account registered a net inflow of 7.24 billion dollars in September 2009, an increase over the previous month’s 5.46 billion dollars.

   - The direct investment account recorded a net outflow of 0.23 billion dollars, larger than the previous month’s 0.11 billion dollars, as residents’ outward direct investment expanded slightly.

   - The portfolio investment account showed a net inflow of 7.92 billion dollars, up from the previous month’s 4.06 billion dollars, as foreigners’ investment in equity securities and bonds issued in Korea rose significantly.

   - The financial derivatives account marked a net outflow of 0.30 billion dollars, down from the previous month’s 0.72 billion dollars as receipts related to financial derivatives transactions increased.

   - The other investment account shifted from the previous month’s net inflow of 2.18 billion dollars to a net outflow of 0.14 billion dollars, as the allocation of Special Drawing Rights(SDRs) by the IMF decreased while domestic financial institutions’ bills bought in foreign currency increased.

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