South Korea October Current Account Surplus $9.78 Billion

(RTTNews) - South Korea posted a current account surplus of $9.78 billion in October, the Bank of Korea said in Friday's preliminary reading.

That's down from the downwardly revised $10.94 billion surplus in September (originally $11.12 billion).

The goods account recorded an $8.12 billion surplus as exports increased annually by 4.0 percent to $60.08 billion and imports fell 0.7 percent to $51.96 billion, both compared to one year earlier.

The services account posted a $1.73 billion deficit owing to deficits in the manufacturing services, and the other business services accounts.

The primary income account recorded a $3.45 billion surplus due to an increase in the income on equity. The secondary income account recorded a $0.05 billion deficit.