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Shipping containers are stacked at a port in the southeastern city of Busan. (Getty Images) |
South Korea racked up a current account surplus for the fourth consecutive month in August, driven by robust exports, central bank data showed Tuesday.
The country's current account surplus reached $6.6 billion in August, marking a surplus for the fourth consecutive month, according to data compiled by the Bank of Korea.
The August surplus was smaller than the previous month's $8.97 billion.
The country's goods account racked up a $6.59 billion surplus in August following an $8.33 billion surplus the previous month.
The nation's outbound shipments rose 7.1 percent on-year in August to $57.45 billion, while imports increased 4.9 percent over the cited period to $50.86 billion, according to the central bank's data.
The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, reported a $1.69 billion surplus in August, following a $3.15 billion surplus the previous month, the data showed.
The services account deficit narrowed to $1.23 billion in August from a deficit of $2.38 billion the previous month, it showed.
In the first eight months of the year, the country's current account surplus reached $53.6 billion, far higher than the $10.67 billion during the same period of last year.
The central bank said the surplus will continue throughout this year. (Yonhap)
