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S. Korea Current A/C Surplus Reduces

S. Korea Current A/C Surplus ReducesS. Korea Current A/C Surplus Reduces

South Korea’s current account surplus reduced to $7.27b in August from $7.84b in July, due to seasonal factors such as a deficit in the travel account at the peak of summer vacation, Central Bank of Korea data showed Monday, Xinhua reported. The travel account deficit climbed to $770m in August from $550m in July. Exports, which account for about half of the economy, fell 8.9% from a month earlier to $49.01b in August. From a year earlier, the exports slid 1.7%. Imports tumbled 11.6% to $41.56b in August on a month-to-month basis. From a year earlier, the imports retreated 2.1%.

 

Financialtribune.com