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S. Korea logs current account surplus for 32nd month

Nov. 27, 2014 - 08:58 By KH디지털2

South Korea posted a current account surplus for the 32nd straight month in October on a rise in exports and a fall in dividend payments overseas, data showed Thursday.
  
The current account surplus reached US$9.01 billion last month, compared with a revised $7.41 billion in September, according to the preliminary data by the Bank of Korea (BOK). The current account is the broadest measure of cross-border trade.
   
With the October data, the country's accumulated current account surplus during the January-October period totaled $70.66 billion, which is equivalent to 84 percent of its $84 billion annual forecast. It also compares with $68.32 billion in the same period last year.
   
The balance of goods came in at $8.66 billion in October, up from a $7.41 billion surplus in the previous month. 
   
The service account, which includes outlays by South Koreans on overseas trips, logged a deficit of $251 million, similar to a $279.1 million deficit in September.
   
The primary income account, which tracks wages of foreign workers and dividend payment overseas, rose to $988.3 million from $633.8 million on a fall in dividend payments, according to the data. (Yonhap)