Current account surplus increases faster than 2013: BOK

By Park Sae-jin Posted : September 29, 2014, 17:21 Updated : September 29, 2014, 17:21


South Korea's cumulative current account surplus reached US$54.31 billion in the first eight months of this year, up 16.9 percent from $46.45 billion tallied in the same period last year, the central bank said Monday. 

The surplus is increasing faster than last year, the Bank of Korea (BOK) said.

The BOK has forecast that the yearly surplus will reach $84 billion in 2014, up from $70.73 billion recorded in 2013, which accounted for about 6 percent of the gross domestic product (GDP).     

In August alone, the surplus totaled $7.27 billion, down from $7.84 billion in July, the central bank said.

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