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Biz News Korea(Eng)
Korea’s Aug current account surplus dwindle on sluggish exports
- Collected
- 2016.10.04
- Distributed
- 2016.10.05
- Source
- Go Direct
According to preliminary balance of payments data released by the Bank of Korea on Tuesday, the nation’s current account in August recorded $5.51 billion, keeping up unstopped surplus streak since March 2013. But the surplus slipped further from $8.67 billion in July and $12.6 billion in June.
The nation registered $7.3 billion surplus in the goods account, compared with $10.78 billion black figure on the July account. It is the smallest figure since $7.02 billion in February 2015.
The nation’s exports contracted to $41.7 billion in August, down 3.0 percent from the same period last year while imports rose 0.6 percent on year to $34.4 billion. It is the first time for imports to make on-year gain since September 2014.
By Lee Sang-duk
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