S. Korea C/A Surplus Grows
World Economy

S. Korea C/A Surplus Grows

South Korea’s current account surplus grew from a month earlier in November as the deficit in the service sector narrowed, nearly offsetting a drop in the goods account, preliminary data from the central bank showed Tuesday.
The current account surplus came to $9.4 billion in November, compared with a revised $9.12 billion surplus in the previous month, South Korea Yonhap news agency reported, citing data from the Bank of Korea.
The November tally, however, marks a significant drop from the $10.76 billion surplus in November 2014. November marked the 45th consecutive month of surplus.
The on-month increase was partly attributed to a cut in the deficit from the service sector that helped offset a drop in the surplus from the goods account.
The surplus in the goods account narrowed to $9.98 billion in November from $10.61 billion in October.
Exports plunged 11.8% on-year to $43.43 billion in November, quickening from a 7.3% on-year drop in the previous month.
Imports too continued to drop, plunging 15.6% on-year to $33.45 billion in November, compared with a 14.8% on-year fall in the previous month.
The deficit in the service sector, on the other hand, narrowed to $1.28 billion in November from $1.7 billion the previous month.
The deficit in the intellectual property account narrowed to $10 million from $680 million over the cited period, while the deficit in the travel account also shrank to $720 million from $850 million.
The primary income account surplus widened from $590 million in October to $890 million in November, owing to an increase in income on equity, the BOK said.
In the first 11 months of 2015, the country’s current account surplus came to $97.99 billion, compared with a $77.42 billion surplus posted in the same period of 2014.


Short URL : http://goo.gl/kdJAT4
  1. http://goo.gl/zZDJ57
  • http://goo.gl/jM9g09
  • http://goo.gl/F0LII3
  • http://goo.gl/HHesnF
  • http://goo.gl/Q55PEz

You can also read ...

More and more Thai merchants are integrating WeChat Pay and Alipay’s systems to cater to tourists.
The internet has changed the way most people live. Through...
Cambodia’s economic outlook remains positive, but is subject to downside risks.
The IMF Managing Director Christine Lagarde expressed optimism...
More India Bank Frauds Revealed
Over 25,800 fraud cases involving about Rs179 crore ($1.79...
Qatar Calls to Investigate UAE Bank’s Bogus Deals
Qatar has asked US regulators to investigate the US subsidiary...
Free trade achieves more good for the planet.
US President Donald Trump’s steel tariffs have brought the...
Morocco Currency Reform on Right Track
Few weeks after the launch of the gradual dirham float, the...
EU Readies Tax on US Technological Titans
The European Union will next week unveil plans for a digital...
Apparel imports from ASEAN are growing, spurred by low labor costs  in such countries as Vietnam.
Import prices for apparel and daily goods in Japan plunged...