South Korea Has $4.52 Billion Current Account Shortfall

South Korea posted a current account deficit of $4.52 billion in January, the Bank of Korea said on Friday – following the $2.68 billion surplus in December.

The goods account saw a 7.46 $billion deficit, down from the $1.54 billion surplus a year earlier.

The services account deficit increased to $3.27 billion, from $0.83 billion in January the year prior, owing to a decrease in the transport account surplus and an increase in the travel account deficit.

The primary income account surplus increased from $1.87 billion the year previously to $6.38 billion in January 2023.

The secondary income account saw a $0.16 billion deficit.

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