Current Account Swings to $924.7 Mil. Surplus in May

South Korea's current account swung to a surplus in May on the back of brisk exports of ships, steel and cars, the central bank said Friday.

The current account surplus came to US$924.7 million in May, a turnaround from a revised deficit of $2.1 billion a month earlier, the Bank of Korea said. It was the first surplus in three months.

The seasonally adjusted current account surplus reached $146.5 million last month, compared with a shortfall of $382.5 million in April. The current account is the broadest measure of trade, service and investment flows into and out of the country.