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Sorry, please use a different browser. Shipbuilding and near-semiconductor exports booming… Current account surplus for 11th month
[앵커]
The current account balance, which is an indicator of international trade performance, continued to be in surplus for 11 consecutive months.
While export recovery continued, focused on shipbuilding and semiconductors, imports of raw materials fell due to a drop in energy prices.
This is reporter Hyeong-min Moon.
[기자]
Last March’s current account balance, provisionally calculated by the Bank of Korea, was $6.93 billion, or 9.5 trillion won in Korean currency.
The current account balance has been in surplus for 11 consecutive months since May last year.
In particular, the surplus has been growing steadily this year, following $3.05 billion in January and $6.86 billion in February.
Exports in March increased by 3% from a year ago, maintaining an upward trend for six consecutive months.
By item, ship exports increased by 107.2%, semiconductors increased by 34.5%, and home appliance exports increased by 14.3%.
However, passenger car exports fell by 5.7%, showing a decline for the second consecutive month.
By region, exports to Japan and the Middle East fell by 12% and 15.2%, respectively, but exports to the United States and Central and South America increased by more than 10%.
Exports to China and Southeast Asia also increased.
March imports were $50.18 billion, down 13.1% compared to the same month a year ago.
Imports of raw materials, capital goods, and consumer goods all fell due to falling energy prices and sluggish domestic demand.
In the case of the balance of services, there was a deficit of $2.43 billion.
In particular, the travel balance showed a deficit of $1.07 billion, but the deficit decreased compared to the previous month due to an increase in foreign tourists and a decrease in domestic travel abroad.
The main income balance, which subtracts the money earned by foreigners in Korea from the money earned by Korean citizens abroad, had a surplus of $1.83 billion, but the size of the surplus decreased compared to the previous month as interest income falls.
This is Hyungmin Moon from Yonhap News TV. (moonbro@yna.co.kr)
# Current Account Balance #Commodity Balance #Exports #Imports
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