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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: SKorea posts current account surplus for second straight month AFP - 1 hour 14 minutes ago SEOUL(AFP) - - South Korea in November achieved a current account surplus for the second straight month but the figure shrank as the global economic slump dented exports, the central bank said Tuesday. The surplus reached 2.06 billion dollars in November, down from a revised record 4.75 billion surplus the previous month, the Bank of Korea said. In the first 11 months of this year the country posted a cumulative current account shortfall of 7.12 billion dollars. The current account is the broadest measure of trade, service and investment flows into and out of the country. The latest surplus was likely to boost the won, which is down sharply against the dollar this year. The goods balance posted a surplus of 994.6 million dollars in November on falling oil prices. But the figure was down from a revised 2.63 billion dollars surplus the previous month as exports fell sharply. Customs-cleared exports declined 19 percent year-on-year in November to 29 billion dollars and imports fell 14.9 percent to 28.9 billion. The shortfall in the service account, which includes South Korean spending on overseas trips, widened to 130 million dollars in November compared with a revised 54.8 million deficit a month earlier. The income account, which tracks wages for foreign workers and dividend payments overseas, logged a surplus of 720.2 million dollars last month, down from 1.41 billion a month earlier. The capital account, which tracks cross-border investments, posted a net outflow of 12.1 billion dollars in November, down from a record net outflow of 24.8 billion a month earlier. The central bank said South Korea is expected to record a current account shortfall of 4.5 billion dollars this year, marking the first annual shortfall in 11 years, before swinging to the black in 2009. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy SKorea posts current account surplus for second straight monthAFP - 1 hour 14 minutes ago Northwest seeks to delay some U.S.-China serviceAP - 2 hours 7 minutes ago Venezuelan economy grew 4.9 percent in 2008AP - 2 hours 37 minutes ago US STOCKS SNAPSHOT-Market falls on Dow news, economic concernsReuters - Tuesday, December 30 Related Articles: Business CORRECTED-Gameworld: Sequels keep video games buzzing in 2008Reuters - 29 minutes ago Japan Hot Stocks-Sharp, AeonReuters - 30 minutes ago CORRECTED-UPDATE 1-China Eastern unveils 7 bln yuan share saleReuters - 31 minutes ago JGB benchmark 10-year yield hits five-year lowReuters - 18 minutes ago S.Korea Nov balance of payments improvesReuters - 45 minutes ago Enlarge Photo SKorea posts current account surplus for second straight month Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine Obama economic plan to cost between 675 and 775 bln: aides At least 210 dead as Israel hammers Hamas-run Gaza View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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