Seoul, July 4
South Korea's current account surplus widened in May from a month earlier, despite falling exports, due mainly to falling global oil prices and an increase in dividend income, central bank data showed on Friday.
The country's current account surplus reached US$10.14 billion in May, following a surplus of $5.7 billion in April, according to the data compiled by the Bank of Korea, reports news agency.
It marked the 25th consecutive month of a current account surplus, as South Korea has reported a monthly surplus since May 2023.
In terms of May figures, it was the third largest on record, following $11.31 billion of surplus in 2021 and $10.49 billion reported in 2016.
During the first five months of this year, the cumulative current account surplus stood at $35.11 billion, compared with $27.06 billion recorded during the same period last year.
The goods account logged a $10.66 billion surplus in May, as exports slid 2.9 percent from a year earlier to $56.93, while imports sank 7.2 percent on-year to $46.27 billion on falling imports of raw materials.
The services account, however, registered a $2.28 billion deficit in May due mainly to rising demand for overseas travel.