S.Korea posts 10.6 bln USD current account surplus in September
Xinhua, November 2, 2015 Adjust font size:
South Korea posted 10.61 billion U.S. dollars of current account surplus in September, keeping a surplus trend for 43 straight months, central bank data showed Monday.
Current account surplus amounted to 10.61 billion dollars in September, up 2.21 billion dollars from a month ago and 3.16 billion dollars from the same month of last year, according to the Bank of Korea (BOK).
The current account balance stayed in the black for 43 months in a row since March 2012.
The surplus trend came mainly from a faster fall in imports than exports, bolstering worries about the so-called "recession-type" surplus trend.
Exports, which account for about half of the economy, retreated 10.8 percent from a year earlier to 45.27 billion dollars in September, and imports tumbled 23.2 percent to 33.21 billion dollars.
The "recession-type" surplus is worrisome especially for the export-driven economy as the current account surplus puts an upward pressure on the South Korean currency to the dollar and worsens export conditions further. Endite