▶Balance of Payments during May 2018 (preliminary)
1. During May 2018 the Korean current account registered a surplus of 8.68 billion dollars.
- The goods account surplus widened to 11.39 billion dollars, compared to its 8.60 billion dollar surplus in May of last year.
- The services account deficit was 2.09 billion dollars, up from its figure of 1.64 billion dollars one year earlier owing to the continuing slump in the travel account and to a deterioration in the manufacturing services account.
- The primary income account reversed from its 0.60 billion dollar deficit in May of 2017 to a surplus of 0.23 billion dollars in May this year, in line with an improvement in the income on equity account.
- The secondary income account showed a 0.84 billion dollar deficit.
2. Looking at the financial account, net assets expanded by 6.86 billion dollars during May.
- Direct investment assets grew by 6.29 billion dollars, and direct investment liabilities by 0.24 billion dollars.
- There was a 3.42 billion dollar increase in portfolio investment assets during the month, and a 3.01 billion dollar expansion in portfolio investment liabilities.
- Financial derivatives posted a net contraction of 0.48 billion dollars.
- In terms of other investment, increases of 4.83 billion dollars in assets and 7.66 billion dollars in liabilities were seen.
- Reserve assets expanded by 3.71 billion dollars.
(Source: The Bank of Korea, 05/07/2018)
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