05.03.201821:16:00UTC+00South Korea January Current Account Surplus $2.68 Billion

South Korea had a current account surplus of $2.68 billion in January, the Bank of Korea said on Tuesday.

That followed the $4.09 billion surplus in December.

The goods account surplus widened slightly to $8.11 billion compared to the $7.73 billion surplus for January 2017.

The services account deficit increased to $4.49 billion from $3.34 billion in January of last year, owing to a deterioration in the travel account.

The primary income account surplus narrowed from $1.18 billion one year earlier to a $0.68 billion surplus in January 2018, in line with a widened deficit in the compensation of employees account.

The secondary income account showed a $1.61 billion deficit.

In the financial account there was an overall $4.11 billion increase in net assets in January.

Direct investment assets grew by $1.40 billion, and direct investment liabilities by $1.26 billion.

A $10.57 billion increase in portfolio investment assets was recorded during the month, and a $7.08 billion expansion in portfolio investment liabilities.

Financial derivatives posted a net contraction of $1.29 billion.

In terms of other investment, there were increases of $2.82 billion in assets and $2.49 billion in liabilities.

Reserve assets grew by $1.44 billion.