S. Korean Current Account Surplus Falls In July

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South Korea's current account balance showed surplus for the sixth straight month in July, the Bank of Korea reported Friday. However, the surplus declined to US$4.4 billion in July from US$5.43 billion last month.

The goods balance recorded a surplus of US$6.17 billion in July, smaller than June's US$6.61 billion surplus. Meanwhile, the deficit in the service account totaled US$1.89 billion, up from US$1.45 billion shortfall in the prior month.

The capital account showed a net inflow of US$2.38 billion in July versus a net outflow of US$290.5 million in June.

Lee Young-bog, head of the BOK's balance of payments statistics team told reporters that the current account surplus in August is expected to be smaller than in July.

South Korea's current account balance showed surplus for the sixth straight month in July, the Bank of Korea reported Friday. (Market News Provided by RTTNews)