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Korea posts current account surplus for 29th straight month

Updated: 2014-08-28 12:15:44 (KST)
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Korea logged yet another current account surplus in July -- that's 29 months in a row now.
It stood at 7.9-1 billion U.S. dollars -- almost unchanged, both from last month and from the same month last year, according to the Bank of Korea.
Exports of products rose one percent from a year earlier to almost 54 billion dollars,while imports increased 3-and-a-half percent to 47 billion on the back of strong oil prices.
The Bank of Korea however adds the rise in imports does not necessarily indicate a pick-up in domestic demand.
Experts also raise concerns that excessive surpluses would put pressure on the already fast-appreciating local currency.


Reporter : emilyfwang@arirang.co.kr

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