South Korea posted a current account surplus for the 35th consecutive month in January.
The Bank of Korea announced on Monday that the current account surplus in January stood at six-point-nine billion dollars after exports amounted to 45-and-a-half billion dollars and imports stood at 38-point-four billion dollars, according to Korea's (KBS WORLD) website.
The central bank said the nation’s current account balance continued to see a surplus even though exports slipped ten percent year-on-year after imports fell nearly 17 percent due to a drop in global oil prices last month.
The bank said the last time the drop in imports and exports was so sharp was in September 2009. At that time, imports plunged nearly 23 percent and exports around 17 percent.
The central bank forecast that the nation’s current account surplus could reach a record of 94 billion dollars this year amid the drop in global oil prices.