S Korea’s current account surplus hits 9-month low in January | 2019-03-10 | daily-sun.com

S Korea’s current account surplus hits 9-month low in January

10 March, 2019 12:00 AM printer

SEOUL: South Korea's currency account surplus hit a nine-month low in January on weak demand for locally-made semiconductors, central bank data showed on Friday.

Current account surplus amounted to 2.77 billion U.S. dollars in January, the lowest since April last year, according to the Bank of Korea (BOK). The current account balance stayed in black for 81 months since May 2012, reports Xinhua.

The reduced surplus came as export, which accounts for about half of the export-driven economy, fell 5.4 percent from a year earlier to 49.38 billion U.S. dollars in January.

It was the biggest export reduction in four months as chip export posted a double-digit decline amid lower product price.


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