S.Korea posts current account surplus for 9 months in January


SEOUL, Mar 9 (XINHUA/APP):South Korea posted current account surplus for nine straight months in January due to brisk export, central bank data showed Tuesday.
Current account surplus amounted to 7.06 billion U.S. dollars in January, according to the Bank of Korea (BOK).
Goods export advanced 9.1 percent over the year to 46.66 billion dollars in January, while import slightly gained to 40.93 billion dollars.
Trade surplus for goods stood at 5.73 billion dollars in January, up 3.66 billion dollars from a year earlier.
Services account balance, which measures the flow of travel, transport costs and royalties, recorded a deficit of 610 million dollars in January, down from a deficit of 2.99 billion dollars in the same month of last year.
Travel account deficit declined from 1.41 billion dollars to 550 million dollars in the cited period, while the transport account balance turned into a surplus of 1.03 billion dollars from a deficit of 110 million dollars.
Primary income account, which includes monthly salary and investment income, registered a surplus of 2.36 billion dollars in January thanks to an increased dividend income.
Financial account, which gauges cross-border capital flow without transactions in goods and services, logged a net outflow of 5.28 billion dollars in January, up from an outflow of 2.26 billion dollars a year ago.
Overseas direct investment by local residents grew 2.2 billion dollars in the month, while foreign direct investment in South Korea increased 570 million dollars.
For the portfolio investment, which includes stock and bond transactions, overseas investment by domestic residents went up 10.95 billion dollars in January. It was the biggest-ever monthly expansion, continuing to rise for 10 months in a row.Foreign investment in local stocks and bonds climbed 2.3 billion dollars in the month.

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