The Korea Herald


S. Korea logs current account surplus in Feb.


Published : March 29, 2012 - 09:19

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South Korea posted a current account surplus in February on the back of solid exports, the central bank said Thursday.

The current account surplus reached US$640 million last month, shifting from a shortfall of $970 million the previous month, according to the Bank of Korea (BOK).

The figure compares with a surplus of $1.13 billion a year earlier, the central bank said.

In January, the country ran a current account deficit for the first time in two years. The current account is the broadest measure of cross-border trade.

The current account has remained in the black on the back of exports, which account for about 50 percent of Asia's fourth-largest economy.

South Korea's goods balance posted a surplus of $1.39 billion last month, a turnaround from a deficit of $1.62 billion a month earlier.

The capital and financial account, covering cross-border investments, posted a net outflow of $690 million in February, shifting from a net inflow of $1.31 billion the previous month, the central bank said. (Yonhap News)