- POSTED: 27 Sep 2013 09:27
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South Korea's current account surplus narrowed in August from the previous month on weaker trade gains, the central Bank of Korea said Friday.
SEOUL: South Korea's current account surplus narrowed in August from the previous month on weaker trade gains, the central Bank of Korea said Friday.
The current account, the broadest measure of South Korea's trade with the rest of the world, showed a surplus of $5.74 billion last month, down from $6.77 billion in July.
It was the 19th straight month that the account has been in the black and brought the combined surplus for the first eight months of this year to $42.28 billion.
Exports rose 7.9 per cent on-year to $46.29 billion and imports gained 1.4 per cent to $40.96 billion, leaving a $5.33 billion dollar trade surplus in August -- down slightly from a revised $5.67 billion in July.
The service account including transport, travel and other services, posted a $100.6 million surplus, down from $357 million dollars in July.