South Korea's balance of payments has been slipping in recent months, due to slower global trade as well as a decline in the country's key export items.
The country saw a steep decline in its current account surplus in the first half of this year.
Oh Soo-young has more.
South Korea recorded its lowest current account surplus in seven years during the first six months of this year,... amid the slowdown of global trade and weaker export figures.
The Bank of Korea's figures released on Tuesday show the country's current account surplus recorded 21-point-seven billion dollars from January to June,... an on-year decline of 24-point-six percent.
Despite the smaller deficit in the services account,... a significant decrease in export figures reduced the total surplus.
Exports fell by eight-point-five percent,... as the country's key export items recorded sizeable drops.
The amount of semiconductor exports in dollars,... slid by 21-point-seven percent.
Electrical and electronic goods, along with petroleum and steel products, also tumbled significantly compared to the previous year.
Imports were also down,... by five-point-one percent on-year,... shrinking the scale of the country's balance of payments from trade.
A central bank official noted that the trade conflict between the U.S. and China and the sluggish global economy had also taken their toll on Korea's current account.
Korea in June posted its highest current account surplus in eight months.
However, both exports and imports of goods continued to decline by 16-percent and 12-percent on-year, respectively.
Oh Soo-young, Arirang News.
The country saw a steep decline in its current account surplus in the first half of this year.
Oh Soo-young has more.
South Korea recorded its lowest current account surplus in seven years during the first six months of this year,... amid the slowdown of global trade and weaker export figures.
The Bank of Korea's figures released on Tuesday show the country's current account surplus recorded 21-point-seven billion dollars from January to June,... an on-year decline of 24-point-six percent.
Despite the smaller deficit in the services account,... a significant decrease in export figures reduced the total surplus.
Exports fell by eight-point-five percent,... as the country's key export items recorded sizeable drops.
The amount of semiconductor exports in dollars,... slid by 21-point-seven percent.
Electrical and electronic goods, along with petroleum and steel products, also tumbled significantly compared to the previous year.
Imports were also down,... by five-point-one percent on-year,... shrinking the scale of the country's balance of payments from trade.
A central bank official noted that the trade conflict between the U.S. and China and the sluggish global economy had also taken their toll on Korea's current account.
Korea in June posted its highest current account surplus in eight months.
However, both exports and imports of goods continued to decline by 16-percent and 12-percent on-year, respectively.
Oh Soo-young, Arirang News.
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