South Korea’s current account surplus hits new high

August 29th, 2012 - 1:11 pm ICT by IANS  

Seoul, Aug 29 (IANS) South Korea’s current account surplus hit a new high last month as imports contracted at a faster pace than exports, data by the central bank showed Wednesday.

Current account surplus reached $6.1 billion in July, up from a revised surplus of $5.88 billion tallied in the previous month, according to the Bank of Korea (BOK).

The figure was the largest in the country’s history, and it maintained its surplus trend for six straight months to July, reported Xinhua.

The current account is the broadest measure of international trade, including goods, services and investment income.

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