off-the-wire

South Korea Jan. current account logs record monthly deficit

Kitco Media
By Reuters
Published:
Updated:
Reuters
SEOUL, March 10 (Reuters) - South Korea's current account logged a record deficit in January, central bank data showed on Friday, as exports of goods slumped and overseas travel increased.


The country's current account balance logged a deficit of $4.52 billion in January, after a $2.68 billion surplus in December, according to the Bank of Korea. It was the biggest monthly deficit since the data series started in 1980.


The balances of goods and services each posted a deficit of $7.46 billion and $3.27 billion, with a drop in exports and jump in travel outflows, although the surplus in primary income increased to $6.48 billion.


(Reporting by Jihoon Lee; Editing by Leslie Adler)

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