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S. Korea's current account surplus dips to $5.72 bln for Oct.

All News 08:04 December 05, 2017

SEOUL, Dec. 5 (Yonhap) -- South Korea's current account surplus contracted in October from a year earlier due mainly to a decreased surplus in the goods account and an increased deficit in the service account, central bank data showed Tuesday.

The country's current account surplus reached US$5.72 billion in October, compared with a surplus of $7.69 billion a year earlier, according to the preliminary data from the Bank of Korea (BOK).

The BOK said the goods account surplus narrowed to $8.6 billion in October from $9.16 billion a year earlier.

Moreover, the services account deficit widened to $3.53 billion from a deficit of $1.79 billion a year earlier due to a rise in overseas trips and foreign business services.

The primary income account surplus increased to $1.17 billion in October from a surplus of $710 million a year earlier.

Exports rose 7.1 percent on-year to $44.96 billion in October, with imports advancing 7.9 percent to $37.82 billion.


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