S Korea December current account surplus shrinks to $2.25bn

30 January 2013 03:02  [Source: ICIS news]

SINGAPORE (ICIS)--South Korea’s current account surplus fell sharply to $2.25bn (€1.67bn) in December last year from a record high in November, amid declining exports, the Bank of Korea (BOK) said on Wednesday.

The figure was 67% lower than November’s $6.78bn surplus, it said in a statement.

Current account measures an economy’s trade in goods, services, tourism and investment with the rest of the world.

The goods account surplus narrowed to $2.03bn in December from $6.78bn in the preceding month, largely on account of shrinking exports, according to the central bank.

On a year-on-year basis, South Korea’s exports fell by 7.22% to $44.4bn in August, while imports were down by 5.5% to $42.4bn, BOK data showed.

($1 = €0.74)

By: Nurluqman Suratman

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