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Korea's current account surplus widens to US$6.41 bln in Feb.

All News 08:00 April 07, 2020

SEOUL, April 7 (Yonhap) -- South Korea's current account surplus sharply increased from a year earlier in February as its goods account surplus widened while its service account deficit slightly narrowed, central bank data showed Tuesday.

The country's current account surplus came to US$6.41 billion in the month, up from a $3.85 billion surplus the same month last year, according to preliminary data from the Bank of Korea (BOK).

Its goods account surplus widened to $6.58 billion from $5.42 billion over the cited period, helped by the first rise in exports in 15 months.

South Korea's outbound shipments had dropped for 14 consecutive months before gaining 4.5 percent on-year in February.

The country's exports added 4.3 percent on-year to $41.18 billion in the month on a customs clearance basis, according to the central bank.

Imports gained 1.5 percent to $37.2 billion.

Its service account deficit, on the other hand, narrowed to $1.45 billion from $1.54 billion in February 2019.

The primary income account surplus came to $1.25 billion in February, compared with a surplus of $450 million a year earlier.

The undated file photo shows stacks of import-export containers stacked at South Korea's largest seaport in Busan, located some 450 kilometers south of Seoul. (Yonhap)


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