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May 24, 2017

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South Korea current account surplus widens to US$4.5 billion in February

SEOUL -- South Korea's current account surplus widened to US$4.5 billion in February, as imports fell and a deficit in the services account narrowed, state data showed Monday.

The preliminary figure compares with US$3.29 billion in January, according to data from the central Bank of Korea.

The South's current account — the broadest measure of cross-border trade — has been in the black for 24 successive months.

Exports last month totaled US$48 billion, down from US$50.6 billion in January, while imports fell to US$42.6 billion from US$46.2 billion.

The services account, which includes spending on overseas trips, showed a shortfall of US$1.06 billion, against a US$1.91 billion deficit in January.

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