BOK: S. Korea's Current Account Surplus Dwindled in 2016

Write : 2017-06-20 15:29:51 Update : 2017-06-20 16:01:09

BOK: S. Korea's Current Account Surplus Dwindled in 2016

The Bank of Korea says South Korea’s current account surplus slipped slightly last year compared to 2015.
 
The central bank revealed on Tuesday that the nation’s current account surplus stood at nearly 98-point-seven billion U.S. dollars in 2016, or 93 percent of the current account surplus posted in 2015, when the figure topped 100 billion dollars for the first time ever.
 
South Korea's current account surplus with China, the nation’s largest trading partner, amounted to some 40-point-seven billion dollars or 87 percent of the figure posted in 2015. 
 
The bank said the drop resulted from a decline in the goods accounts surplus that came from a drop in exports of IT equipment and semiconductors as well as a contraction in the service account surplus.

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