SEOUL, Feb. 6 (Xinhua) -- South Korea logged its second-highest current account surplus last year thanks to strong export and dividend income, central bank data showed Thursday.
Current account balance, the broadest measure of cross-border trade, recorded a surplus of 99.04 billion U.S. dollars in 2024, according to the Bank of Korea (BOK).
Trade surplus for goods amounted to 100.13 billion dollars on a growth of outbound shipment.
Exports gained 8.2 percent from a year earlier to 696.20 billion dollars in 2024, while imports fell 1.6 percent to 596.07 billion dollars.
The service account deficit came to 23.70 billion dollars in 2024, down from a deficit of 26.82 billion dollars in 2023.
The travel account deficit reached 12.50 billion dollars last year due to a higher number of local travelers going abroad.
The primary income account, which includes monthly salary and investment income, registered a surplus of 26.62 billion dollars on dividend income from a foreign stock investment that stood at 18.58 billion dollars.
Financial account, which gauges cross-border capital flow without transactions in goods and services, posted a net outflow of 95.21 billion dollars in the cited year.
Overseas direct investment by domestic residents expanded by 48.59 billion dollars, while foreign direct investment in South Korea climbed by 15.23 billion dollars.
For the portfolio investment, which includes stock and bond trading, overseas investment by local residents jumped by 72.25 billion dollars, while foreign investment in local stocks and bonds grew by 21.96 billion dollars. ■
