Thanks to semiconductor exports … The current account surplus is the highest in about 7 years

Thanks to semiconductor exports … The current account surplus is the highest in about 7 years

[앵커]

Korea’s current account surplus reached its largest level in about seven years.

This is due to a significant recovery in exports, especially semiconductors.

This is reporter Kang Eun-na-rae.

[기자]

The current account balance for June announced by the Bank of Korea today (7th) was $12.26 billion, or about 16.89 trillion won in Korean currency, or more.

This is the highest level in 6 years and 9 months since September 2017.

Accordingly, the cumulative current account balance in the first half of this year was calculated at $37.73 billion.

It is more than 30 times larger than the same period last year and significantly higher than the Bank of Korea’s forecast of $27.9 billion.

By item, the merchandise balance in June was $11.47 billion, a surplus for 15 consecutive months, and the surplus was the largest since September 2020.

Exports totaled $58.82 billion, an 8.7% increase from last June and an increase for the 9th consecutive month.

In particular, semiconductors, information and communication devices, petroleum products, and passenger vehicles led the export increase.

Imports totaled $47.35 billion, down 5.7% from a year ago as imports of raw materials, capital goods, and consumer goods declined.

In terms of balance of services, there was a deficit of $1.62 billion.

The deficit has decreased compared to a year ago, but it has increased compared to a month ago, and as foreign travel has increased recently, the deficit has widened, with the travel balance sees a deficit of $900 million.

In addition, the main income balance was $2.69 billion, which is the difference between the income earned by Koreans abroad and the income earned by foreigners in Korea, $2.69 billion, an increase in surplus compared to the previous month.

This is likely because the effect of seasonal dividends on foreigners has disappeared.

Due to the prospect of a US interest rate cut, Koreans’ financial investment abroad, mostly in stocks, increased by $6.63 billion, but foreigners’ domestic investment, mainly in bonds, decreased by $2.39 billion .

The Ministry of Economy has delivered this information so far. ([email protected])

#current account balance #goods balance #more #deficit

Yonhap News TV article questions and reports: KakaoTalk / Line jebo23

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