Balance of Payments during June 2010
(preliminary)
July 2010
Economic Statistics Department
The Bank of Korea
□ The current account surplus for June 2010 widened to 5.04 billion dollars from the previous month's 3.82 billion dollars.
The goods account surplus widened to 6.35 billion dollars
―
from the previous month's 4.17 billion dollars, due to a increase in shipbuilding exports.
The services account deficit widened to 1.67 billion dollars
―
from the previous month's 0.64 billion dollars, as external payments for other services including business services increased.
The income account surplus stood at 0.33 billion dollars,
―
similar to that of the previous month.
― The current transfers account remained in equilibrium, following on from the previous month.
< The current account accumulated a surplus of 11.61 billion dollars during the first six months of 2010. >
Current Account Trends
The capital and financial account in June 2010 registered
□ a net
outflow of 0.94 billion dollars, a decrease from the previous month's net outflow of 12.04 billion dollars.
Direct investment recorded a net outflow of 0.47 billion
―
dollars, almost the same as the previous month's net outflow, as outward foreign direct investment shrank relatively sharply, while inward foreign direct investment marked a small net outflow.
― ortfolio investment shifted from the previous month's netP outflow of 0.59 billion dollars to a net inflow of 1.89 billion dollars, as domestic stock investment experienced a renewed net inflow of foreign investors' funds.
Financial derivatives again registered a net outflow of 0.45
―
billion dollars, the same level as the previous month.
The other investment marked a net outflow of 1.95 billion
―
dollars, a sharp decrease from the previous month's net outflow of 10.55 billion dollars, being mainly influenced by the shift of overseas borrowings to a net inflow.
< The capital and financial account recorded a net inflow of 1.30 billion dollars during the first six months of 2010. >
Reserve assets increased by 3.39 billion dollars in June 2010.
□
< Reserve assets expanded by 12.46 billion dollars during the first half of 2010. >
Balance of Payments Summary Table
1)(In hundred million of U.S. dollars, %)
2009p 2010p
6 1~6 5r 6 1~6
. Current account
Ⅰ 53.8 217.2 38.2 50.4 116.1
1. Goods 66.0 258.8 41.7 63.5 230.8
Exports(FOB) 315.6 1,678.6 386.6 415.7 2,243.1
(-22.3) (-24.1) (38.6) (31.7) (33.6) (customs clearance) 322.1 1,647.8 390.3 419.2 2,215.1 (-13.6) (-23.0) (40.3) (30.1) (34.4)
Imports(FOB) 249.6 1,419.7 344.9 352.1 2,012.3
(-32.9) (-34.5) (49.9) (41.1) (41.7) (customs clearance) 256.9 1,453.9 349.1 354.9 2,038.7 (-32.1) (-34.2) (49.1) (38.2) (40.2)
2. Services -15.3 -60.9 -6.4 -16.7 -102.1
Credit 45.5 283.9 59.9 63.1 335.0
Debit 60.8 344.8 66.4 79.8 437.1
3. Income 7.1 12.2 3.0 3.3 0.0
Credit 15.0 77.1 13.0 16.7 83.5
Debit 7.9 65.0 10.0 13.4 83.5
4. Current Transfers -4.0 7.1 -0.1 0.3 -12.7
Credit 9.6 65.9 11.5 13.5 66.1
Debit 13.6 58.8 11.6 13.2 78.8
. Capital & financial
Ⅱ account -2.2 72.8 -120.4 -9.4 13.0
1. Direct investment 2.9 -22.2 -5.5 -4.7 -48.8
2. Portfolio investment 53.4 202.7 -5.9 18.9 173.4
3. Derivatives -12.8 -55.1 -4.5 -4.5 -7.4
4. Other investment -46.2 -62.8 -105.5 -19.5 -102.7
5. Capital transfer and acquisition of
non-financial assets 0.4 10.2 1.0 0.5 -1.5
Ⅲ. Changes in reserve
assets2) -38.5 -285.6 70.8 -33.9 -124.6
. Errors & omissions
Ⅳ -13.1 -4.4 11.4 -7.1 -4.5
Notes : 1) Figures in ( ) represent year-on-year changes.
2) Negative figures represent increases in reserve assets.
