The current account balance has been in the black for three months..."Semiconductor exports are strong"

July current account surplus of $9.13 billion
Highest
since July 2015 at $9.37 billionThe surplus is $3.43 billion lower than in June.

[Anchor]
The current account, the final report card for international trade, has been in the black for three months.

This is the result of continued strong semiconductor exports.

I'll connect you with a reporter for more information.

Reporter Hwang Bo Hye-kyung!

The current account is in the black again this time?

[Reporter]
Yes, the Bank of Korea today announced its current account for July.

It's a surplus of 9.13 billion dollars.

As of the same month, it is the largest surplus since it reached $9.37 billion in July 2015.

However, the surplus decreased by more than $3.4 billion from June, the previous month.

Current account refers to the net foreign currency income earned by a country through international transactions in the period.

[Anchor]
Shall we take a closer look at what areas have decreased compared to June?

[Reporter]
Yes, first, let's look at the goods balance, which accounts for the largest portion of the current account.

July was a surplus of $8.49 billion due to higher exports of goods than imports, but the surplus was $3.25 billion lower than in June.

Exports have been in the black for 10 months, mainly semiconductors.

Compared to June, the size is down $360 million.

On top of that, imports increased by nearly $2.9 billion.

In the end, exports decreased slightly and imports increased significantly, bringing down the overall current account surplus from June.

In addition, the service account, which consists of items such as travel, transportation, and construction, was worse than the previous month, recording a deficit of $2.38 billion.

The increase in overseas travel has widened the travel account deficit, and the transport account has deteriorated due to the increase in sea transport payments.

However, the primary income balance has improved by subtracting the money earned by foreigners from the money earned abroad by Koreans.

The surplus was $3.15 billion, up more than $400 million from June, helping the overall current account surplus.

So far, I'm YTN Hwang Bo Hye-kyung from the Ministry of Economy.