SEOUL, June 22 (Xinhua) — South Korea logged its record-high present account surplus with the United States final 12 months resulting from strong automotive export, central financial institution information confirmed Thursday.
The nation’s present account surplus with the United States jumped to 67.79 billion U.S. {dollars} in 2022 from 45.54 billion {dollars} within the earlier 12 months, based on the Bank of Korea (BOK).
It has marked the best document since related information started to be compiled in 1998. The total present account surplus tumbled from 85.23 billion {dollars} to 29.83 billion {dollars} within the cited interval.
Trade surplus for items with the United States hit a brand new excessive of 56.38 billion {dollars} final 12 months because of hovering automotive cargo.
South Korea’s present account deficit with Japan diminished to 17.78 billion {dollars} in 2022 from 22.2 billion {dollars} within the prior 12 months.
The nation recorded a present account surplus of seven.04 billion {dollars} with the European Union (EU) in 2022, turning from a deficit of 630 million {dollars} in 2021.
The present account surplus with Southeast Asia shed from 102.36 billion {dollars} to 80.23 billion {dollars} within the cited interval, whereas the deficit with the Middle East expanded from 47.98 billion {dollars} to 88.05 billion {dollars}.