SEOUL, Aug. 7 (Xinhua) -- South Korea's current account surplus hit a record high in June thanks to strong demand for locally-made semiconductors and ships, and higher dividend income, central bank data showed Thursday.
Current account balance, the broadest measure of cross-border trade, logged a surplus of 14.27 billion U.S. dollars in June, marking the highest-ever monthly figure, according to the Bank of Korea (BOK).
The current account balance stayed in black for the 26th consecutive month since May 2023.
Trade surplus for goods came to 13.16 billion dollars in June, higher than 10.66 billion dollars in the previous month.
Export gained 2.3 percent in June from a year earlier, rebounding from a reduction of 2.9 percent in the prior month on the back of robust demand for chips and ships.
Import added 0.7 percent in June on a yearly basis after sliding 7.2 percent in May.
Service account deficit stood at 2.53 billion dollars in June, worsening from a deficit of 2.28 billion dollars in May.
Primary income account, which includes monthly salary and investment income, registered a surplus of 4.16 billion dollars on higher dividend income from foreign stock investment.
Financial account, which gauges cross-border capital flow without transactions in goods and service, recorded a net outflow of 17.29 billion dollars in the cited month.
Overseas direct investment by domestic residents swelled 3.92 billion dollars, while foreign direct investment in South Korea climbed 740 million dollars.
For the portfolio investment, which includes stock and bond trading, overseas investment by local residents jumped 9.84 billion dollars, while foreign investment in local stocks and bonds grew 5.41 billion dollars. ■
