Korea's current account surplus narrows in Dec.
By Byun Duk-kun
SEOUL, Feb. 6 (Yonhap) -- South Korea's current account surplus narrowed sharply in December as its exports fell at a faster rate than imports, central bank data showed Thursday.
The country's current account surplus came to US$4.33 billion in the month, down $1.64 billion from the month before, according to preliminary data from the Bank of Korea (BOK).
The reading also marks a $580 million drop from the same month in 2018. The country's current account balance has been in the black for eight consecutive months since May 2019.
The drop was partly attributed to a steady decline in exports, which in December dipped 3.5 percent on-year, while imports only inched down 0.3 percent.
South Korea posted a goods account surplus of $5.03 billion in the month, compared with a surplus of $7.39 billion in November and a $6.63 billion surplus a year earlier.
Its service account deficit reached $2.5 billion, compared with a $1.89 billion deficit the month before and $1.85 billion a year earlier, according to the BOK.
bdk@yna.co.kr
(END)
-
Ateez to drop new Japanese EP next week
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
Gov't to significantly increase international flights to meet travel demand
-
(2nd LD) BTS wins three Billboard Music Awards, marking 6th year to win an award
-
Crypto investor probed over allegedly visiting house of Terraform's CEO
-
S. Korea to send condolence delegation to UAE over death of president
-
(LEAD) Yoon, PPP lawmakers travel to Gwangju en masse to commemorate 1980 democracy uprising
-
(LEAD) Presidential secretary resigns amid controversy over remarks on homosexuality
-
(3rd LD) N. Korea reports 6 COVID-19 deaths amid 'explosive' spread of fever
-
Gov't to significantly increase international flights to meet travel demand
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
At least 4 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(2nd LD) 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(3rd LD) N. Korean missile or nuclear test very possible during Biden's Asia trip: Sullivan