S. Korea current account surplus slips in June

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SEOUL: South Korea logged a current account surplus of nearly $8.0 billion in June, slightly down from the May figure as import growth outpaced exports, the central Bank of Korea said on Tuesday.

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The current account, the broadest measure of foreign trade in goods and services, showed a surplus of $7.92 billion compared to a revised figure of $9.08 billion the previous month.

With the June figure, the surplus for Asia’s fourth largest economy in the first six months of the year stood at a record $39.2 billion dollars, compared with $31.3 billion a year earlier.

The bank’s data showed that overseas shipments rose 2.5 percent on-year to $47.85 billion, while imports were up 4.1 percent at $42.4 billion.

The service account, which includes outlays by South Koreans on overseas trips, saw its deficit widen to $580 million from $340 million in May.

AFP

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