Tip:
Highlight text to annotate it
X
Korea has posted its 24th consecutive monthly current account surplus but the amount tightened
to its smallest amount in almost a year in January.
The Bank of Korea says the country's current account surplus stood at slightly over three-point-six
billion U.S. dollars in January... down some 40 percent from a month earlier due to a fall
in exports and increased spending on overseas travel.
The central bank said exports dropped in January because of most of the country took time off
over the Lunar New Year holiday. Korea's yearly surplus for 2013 clocked in
at a record 70-point-7 billion dollars, but the central bank expects it to fall to 55-billion
dollars this year as the government looks to strike a better balance between domestic
demand and exports.