ID :
358702
Mon, 03/02/2015 - 02:09
Auther :

S. Korea's current account surplus slips for 2nd month in Jan.

SEOUL, March 2 (Yonhap) -- South Korea's monthly current account surplus slipped for a second straight month in January but continued to expand its surplus streak for a 35th straight month, data showed Monday. The current account surplus hit US$6.94 billion in January, inching lower from a revised $7.02 billion the previous month, according to the preliminary data by the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade. With the latest result, Asia's fourth-largest economy is poised to renew its record surplus streak of 38 months set since June 1986. The balance of goods reached $7.09 billion in January, down from an $8.32 billion surplus a month earlier. The service account, which includes outlays by South Koreans on overseas trips, widened its deficit to $2.44 billion from $1.54 billion in December. The primary income account, which tracks wages of foreign workers and dividend payments overseas, more than doubled to $2.9 billion from $1.21 billion on a rise in dividend income. Dividend income hit a record $2.32 billion on a monthly basis due to a rise in dividend income at IT firms that directly invest overseas, according to the central bank. mil@yna.co.kr (END)

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