Current account surplus tops US$4 billion in September
Oct 29, 2009
Source : Bank of Korea
The following is a press release dated Oct. 28. For more, click DOWNLOAD.
o 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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