이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Korea’s current account surplus hit $8.72 bn in October
- Collected
- 2016.12.02
- Distributed
- 2016.12.05
- Source
- Go Direct
Preliminary data released by the central bank on Monday showed that South Korea has been in the black in current account uninterrupted since March 2012. The figure added by $650 million from the previous month but decreased from $9.58 billion a year ago.
Goods account surplus dwindled to $9.83 billion, compared with $10.7 billion black figure on the September account. Cumulative surplus in goods account this year up to October reached $100.59 billion. Current-account surplus until October was at $81.92 billion.
Based on the international balance of payments, the country’s export fell 6.3 percent from the previous year to $43.3 billion due to multiple whammies at home and abroad, including sluggish demand from the global market, Hyundai Motor’s lengthy strike, typhoon, and Samsung Electronics’ debacle with Galaxy Note7. By region, exports to the Middle East and South-East Asian countries were on the rise while exports to China, Central and South America and the US declined. Imports also slipped 5.0 percent on-year to $33.5 billion in October.
Deficit in service account narrowed from $2.58 billion in September to $1.59 billion in October. Although it improved a bit as the summer vacation season ended, service account continued to see deficit due to depressed cargo shipping sector after the country’s largest Hanjin Shipping was placed under bankruptcy court and increased intellectual property rights fees.
By Boo Jang-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]