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South Korea Has $8.03 Billion Current Account Surplus

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South Korea posted a current account surplus of $8.03 billion in February, the Bank of Korea said on Wednesday - roughly in line with expectations and up from $7.06 billion in February.

The goods account surplus narrowed to $6.05 billion, compared to $6.60 billion in February 2020.

The services account saw a $0.13 billion surplus, up from the $1.44 billion deficit a year earlier, owing to an improvement in the transport account.

The primary income account surplus increased from $1.22 billion last year to $2.12 billion in February 2021, in line with an increase in the income on equity.

The secondary income account had a $0.26 billion deficit.

In the financial account, net assets increased by $7.43 billion in February 2021.

Direct investment assets increased by $3.33 billion and direct investment liabilities decreased by $0.13 billion.

There was a $9.38 billion increase in portfolio investment assets during the month, and a $7.02 billion increase in portfolio investment liabilities.

Financial derivatives posted a net decrease of $1.00 billion.

In terms of other investments, there was an increase of $0.79 billion in assets and an increase of $0.41 billion in liabilities.

Reserve assets increased by $2.24 billion.

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