South Korea posted a current account surplus of $11.51 billion in December, the Bank of Korea said on Friday – up from $8.97 billion in November.

For all of 2020, the current account surplus was $75.28 billion.

Looking at the financial account, net assets increased by $8.50 billion during December. The increase for the year 2020 as whole was $77.12 billion.

Direct investment assets increased by $4.97 billion, and direct investment liabilities increased by $2.50 billion.

There was a $9.60 billion increase in portfolio investment assets during the month, and a $4.70 billion decrease in portfolio investment liabilities.

Financial derivatives posted a decrease of $0.48 billion.

In terms of other investments, there was an increase of $0.29 billion in assets and an increase of $10.87 billion in liabilities.

Reserve assets increased by $2.78 billion.

For the year, the goods account surplus widened to $10.50 billion, compared to the $5.60 billion figure in December 2019.

The services account deficit decreased to $0.53 billion, from $2.60 billion in December 2019, owing to an improvement in the travel and transport accounts.

The primary income account surplus decreased from $2.56 billion the year previously to $2.19 billion in December 2020, in line with a decrease in the income on equity.

The secondary income account recorded a $0.65 billion deficit.

The material has been provided by InstaForex Company –

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