2020.07.0700:15:00UTC+00South Korea Posts $2.29 Billion Current Account Surplus In May

South Korea posted a current account surplus of $2.29 billion in May, the Bank of Korea said on Tuesday - following the $3.12 billion deficit in April.

The goods account surplus narrowed to $2.50 billion, compared to $5.50 billion in May 2019. The services account deficit fell to $0.48 billion from $0.95 billion in May last year, owing to an improvement in the travel and transport account.

The primary income account surplus narrowed from $1.29 billion a year ago to $0.54 billion in May of this year, in line with a decrease in the income from dividends.

The secondary income account saw a $0.27 billion deficit, while the financial account net assets increased by $3.24 billion during May.

Direct investment assets shed $0.07 billion and direct investment liabilities dropped $0.11 billion.

There was a $4.10 billion increase in portfolio investment assets during the month, and a $0.38 billion decrease in portfolio investment liabilities.

Financial derivatives posted a net increase of $0.83 billion. In terms of other investments, there was a decrease of $11.25 billion in assets and a decrease of $7.55 billion in liabilities.

Reserve assets increased by $1.59 billion.