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Korea’s current account surplus surpassed the $100 billion mark for the first time in 2015 as the country’s imports declined faster than exports, central bank data showed Monday.
The figure came to a record high of $105.96 billion in 2015, compared with an $84.37 billion surplus in the previous year, said the Bank of Korea, citing preliminary data.
But the surplus for the month of December narrowed from a month earlier on surging deficits in the services sector.
Exports shrank 10.5 percent on-year to $548.9 billion last year, but imports fell at a faster pace of 18.2 percent to 428.56 billion.
Broken down, the nation’s goods account surplus spiked 35.4 percent on-year to a record high of $120.37 billion last year.
But deficit in the services sector hit a record high of $15.71 billion last year as compared to $3.68 billion posted in 2014.
A large travel account deficit was caused mostly by the outbreak of the Middle East respiratory syndrome last year that killed 38 people here.
The primary income account surplus widened to $5.9 billion in 2015 from $4.15 billion in the previous year.
(khnews@heraldcorp.com)
