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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World S.Korea's Aug c/a surplus more than halves Reuters - Tuesday, September 29 Send IM Story Print SEOUL, Sept 29 - South Korea's current account surplus more than halved in August on a smaller goods account surplus with the first monthly export decline in three months, central bank data showed on Tuesday. The reduced surplus is expected to put pressure on the won <KRW=>, but a monthly rise in imports for the fifth consecutive month with increasing purchases of foreign consumer products and capital goods indicated a recovery in Asia's fourth-largest economy. South Korea reported a seasonally adjusted current account surplus of $1.79 billion in August, down from a revised $3.9 billion surplus in July, the Bank of Korea said in a statement. The goods account in August fell to a seasonally adjusted $3.22 billion from the previous month's $5.70 billion surplus, according to the data. August's goods exports declined 1.7 percent to a seasonally adjusted $31.01 billion from July, the first monthly fall since a 5.7 percent drop in March. Goods imports in August rose 7.4 percent to a seasonally adjusted $27.79 billion from the prior month, the biggest monthly gain since a 9.8 percent rise in October 2007. South Korea posted a $29.09 billion current account surplus in the first eight months of the year, swinging from a $8.73 billion deficit a year ago. The Bank of Korea expects the country to post a current account surplus of $29 billion this year while the finance ministry sees a $25 billion surplus. Before seasonal adjustments, the country reported a current account surplus of $2.04 billion in August, compared with a revised $4.36 billion surplus in July. Foreign borrowing rose by a net $690 million in August after rising a net $30 million in July, the central bank said. Recommend Send IM Story Print Related Articles India Hot Stocks:MindTree extends gains after acquisition news Reuters - 1 hour 40 minutes ago Australia regulator approves grain port access plans Reuters - Tuesday, September 29 WRAPUP 2-Australia c.bank sees risk of housing price bubble Reuters - 2 hours 3 minutes ago Lupin buys cholesterol-lowering drug for $38.61 mln Reuters - Tuesday, September 29 Indian shares rise 1 pct early, Bharti gains Reuters - Tuesday, September 29 News Search Top Stories Xerox to buy ACS for $6.4 bln Dollar firms against euro Frankfurt stocks rise after Merkel win Madoff family to be sued over missing billions Deripaska's company owes bank $432 mln More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Madoff family to be sued over missing billions Xerox to buy ACS for $6.4 bln Deripaska's company owes bank $432 mln Bonus-less Hungary sees plunging car sales Dollar firms against euro More Most Viewed » Ozone hole smaller in 2009 than 2008: WMO Remains of Jesus-era synagogue found in Israel Nanoparticles could pose threat to humans: scientists Implanted tooth helps blind US woman recover sight More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Search Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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