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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
KOREA
Korea’s seasonally adjusted current account surplus widened in October to $6.06bn from $2.62bn helped by a larger merchandise trade surplus, smaller services deficit and wider primary income surplus. The current account has been in surplus since December last year and October was the largest since March 2022. The non-seasonally adjusted measure also widened. USDKRW has fallen 1.2% during trading so far today to 1310.10 finding direction from the stronger yen.
- The seasonally adjusted goods surplus rose $1.2bn to $5.69bn in October. This was as a result of the first annual increase in exports in over a year. Merchandise exports rose 8.6% y/y after falling 3.5% y/y in September, whereas imports fell 6.2% y/y, which was better than last month’s -14.9%. Data is showing that tech exports have begun to recover.
- The October services deficit narrowed to $1.54bn from $2.89bn.
- The financial surplus widened to $8.37bn from $4.52bn due to the other investment component. Direct investment fell into a small deficit while the portfolio investment surplus narrowed moderately.
South Korea goods trade
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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