South Korea May current account surplus at 8-month low

[SEOUL] South Korea's current account surplus fell to US$6.44 billion in May, the smallest in eight months, from US$10.41 billion in April in seasonally adjusted terms as exports shrank, central bank data showed on Thursday.

Exports in May dropped 8.8 per cent from April to US$44.30 billion while imports edged up 2.0 per cent to US$36.49 billion. As a result, the goods surplus fell to US$7.81 billion from a US$12.80 billion surplus in April, the Bank of Korea data showed.

In the financial account, South Korea saw a net outflow of US$8.81 billion in May without seasonal adjustment, compared to a net outflow of US$10.06 billion in April.

REUTERS