South Korea posted an unadjusted current account surplus of $6.44 billion in February, the Bank of Korea said on Thursday – following the $6.58 billion surplus in January.

The goods account surplus widened from $6.69 billion the previous month to $7.32 billion.

The services account deficit narrowed to $2.06 billion from $2.38 billion the month before due to the improvement in the travel account.

The primary income account surplus narrowed to $1.40 billion from $2.90 billion in January due to an decrease in income on the equity account.

The secondary income account saw a deficit of $0.22 billion. The financial account had a net outflow of $5.54 billion, down from $8.24 billion in the previous month.

Direct investment saw a net outflow of $1.99 billion, higher than the $1.00 billion in the previous month, due to the shift of foreigners’ direct inward investment to a net outflow.

Portfolio investment had a net outflow of $3.00 billion less than the $3.62 billion of the previous month, owing to the shift of foreign investors’ securities investment to a net inflow.

Financial derivatives saw a net inflow of $0.03 billion.

Other investment, despite the collection of loans by financial institutions, shifted to a net outflow of $0.37 billion from a net inflow of $0.49 billion in January due primarily to the shift to a net repayment of their borrowings.

Reserve assets increased by $0.20 billion.

The material has been provided by InstaForex Company –