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S Korea's current account surplus slips in June

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 (July 29).

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 (July 29).

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 per cent on-year to $47.85 billion, while imports were up 4.1 per cent 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.

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