Arab Today, arab today south korea\s current account surplus reduces on 1 off factor
Last Updated : GMT 16:03:08
Arab Today, arab today
Arab Today, arab today

South Korea\'s current account surplus reduces on 1 off factor

Arab Today, arab today

Arab Today, arab today South Korea\'s current account surplus reduces on 1 off factor

Seoul - XINHUA

South Korea's current account surplus reduced last month on the back of less working days caused by the Lunar New Year's holiday, central bank data showed Thursday. Current account surplus was 3.61 billion U.S. dollars in January, down from a 6.41-billion-dollar surplus in the prior month, according to the Bank of Korea (BOK). The current account balance stayed in the black for 24 straight months, but it fell to the lowest in 11 months. The surplus declined as the Lunar New Year's holiday moved to January this year from February last year, pulling down last month 's business days by two days from a year ago. Trade surplus dropped to 3.32 billion dollars in January from 5.69 billion dollars in December last year, but the seasonally adjusted trade surplus, which excludes seasonal one-off factors, increased from 6.55 billion dollars to 7.43 billion dollars over the cited period. Exports, which account for around half of the economy, increased 0.2 percent from a year earlier to 47.24 billion dollars in January, but imports declined 1.4 percent to 43.92 billion dollars last month. Daily average exports, which exclude a change in business days, jumped 8.9 percent in January from a year earlier on the customs basis. "The main seasonal factor was a fall in working days. Except for the factor, daily average exports gained 8.9 percent," Jung Joon, director of BOK's monetary & financial statistics division, told reporters. Despite worries about emerging economies, South Korea's January exports showed a better picture than expected, Jung said, noting the decline in exports to Japan came from the depreciation of the Japanese yen that reduced exports value converted into the dollar. Worries emerged after currencies of some emerging economies, including Argentina and Turkey, plunged against the dollar after the U.S. Federal Reserve decided to scale back its monthly bond purchases by 10 billion dollars to 75 billion dollars in December last year. The Fed cut its monetary stimulus to 65 billion dollars. Exports to China, the country's largest trading partner, managed to rise 0.7 percent on year in January, and those to Southeast Asian nations increased 2.9 percent. Outbound shipments to Europe surged 24.8 percent, but those to Japan and the United States slid 19.8 percent and 2 percent respectively. The service account balance, which measures the flow of travel, transport costs and royalties, turned into a deficit of 590 million dollars in January from 440 million dollars of surplus in the prior month. It was attributed to a fall in surplus of transport and construction surpluses. Surplus in primary income account, which includes monthly salaries and investment income, rose to 690 million dollars in January from 420 million dollars in the previous month on the back of a rise in interest income. Financial account, which gauges cross-border investment, posted an outflow of 2.18 billion dollars in January, down from an outflow of 6.39 billion dollars in the prior month. Direct investment shifted into an inflow of 1.13 billion dollars in January from an outflow of 1.51 billion dollars in December last year due to a surge in foreign direct investment into South Korea. Portfolio investment, including stock and bond transactions, logged an outflow of 4.27 billion dollars last month from an outflow of 5.16 billion dollars a month earlier as foreigners returned to the domestic financial market to buy securities. Other investment account, including trade credit and foreign debts, registered an inflow of 3.7 billion dollars last month, up from an inflow of 170 million dollars a month ago as local financial institutions lifted borrowing from overseas.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south korea\s current account surplus reduces on 1 off factor Arab Today, arab today south korea\s current account surplus reduces on 1 off factor

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday