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South Korea November Current Account Surplus $5.06 Billion


South Korea posted a current account surplus of $5.06 billion in November, the Bank of Korea said on Tuesday - down from the $9.19 billion surplus in October.

The goods account surplus stood at $7.97 billion, down from $11.46 billion in November 2017.

The services account deficit was $2.29 billion, less than the $3.27 billion dollar deficit one year before owing to improvements in the transport and the travel accounts.

The primary income account reversed from its $0.07 billion deficit in November 2017 to a surplus of $0.03 billion dollars in November 2018, in line with an improvement in the income on equity account.

The secondary income account showed a $0.65 billion deficit.

In the financial account, net assets expanded by $4.26 billion during November. Direct investment assets grew by $2.01 billion, and direct investment liabilities by $1.79 billion.

There was a $4.84 billion increase in portfolio investment assets during the month, and a $0.19 billion decrease in portfolio investment liabilities. Financial derivatives posted net growth of $0.34 billion.

In terms of other investment, there were declines of $6.19 billion in assets and $4.90 billion in liabilities. Reserve assets decreased by $0.04 billion.

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