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S. Korea's current account surplus falls to 7-year-low in H1

2019-08-06 3 Dailymotion

상반기 경상수지 흑자 7년만에 최소…수출 부진 영향<br /><br />South Korea's balance of payments has been slipping in recent months, due to slower global trade as well as a decline in the country's key export items.<br />The country saw a steep decline in its current account surplus in the first half of this year.<br />Oh Soo-young has more.<br />South Korea recorded its lowest current account surplus in seven years during the first six months of this year,... amid the slowdown of global trade and weaker export figures.<br />The Bank of Korea's figures released on Tuesday show the country's current account surplus recorded 21-point-seven billion dollars from January to June,... an on-year decline of 24-point-six percent.<br />Despite the smaller deficit in the services account,... a significant decrease in export figures reduced the total surplus.<br />Exports fell by eight-point-five percent,... as the country's key export items recorded sizeable drops.<br />The amount of semiconductor exports in dollars,... slid by 21-point-seven percent.<br />Electrical and electronic goods, along with petroleum and steel products, also tumbled significantly compared to the previous year.<br />Imports were also down,... by five-point-one percent on-year,... shrinking the scale of the country's balance of payments from trade.<br />A central bank official noted that the trade conflict between the U.S. and China and the sluggish global economy had also taken their toll on Korea's current account.<br />Korea in June posted its highest current account surplus in eight months.<br />However, both exports and imports of goods continued to decline by 16-percent and 12-percent on-year, respectively.<br />Oh Soo-young, Arirang News.<br />

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