Home News Youth Abuzz Edu&Career Sports Showbiz Culture Opinion Odd & Fun English Corner
On May 5, 1821, Napoleon died of illness on the island of Saint Helena.    
Bilingual
News
00114320def1105a6f4f22.jpg Men think hotter girls like them more
untitled.bmp What do you think of TIME 2011 Person of the Year?
00114320def1105a369301.jpg English-only town triggers hot debate
732473_151858265581_2 - 副本.jpg Greek man claims 19 fake kids
 

S Korea's current account surplus inches down in May


http://en.youth.cn   2009-06-26 15:18:00
South Korea posted a current account surplus in May for the fourth consecutive month, with the amount of surplus contracting as the service and current transfer accounts marking deficits, the central bank said on June 26.

According to the Bank of Korea (BOK), the current account topped a 3.63 billion-U.S. dollar surplus in May, edging down from a 4.25 billion-U.S. dollar surplus a month earlier.

The current account has been standing in positive territory since February mainly due to imports falling faster than exports amid a slump in domestic demands, the BOK said.

According to the BOK, while the goods account and the income account stood in the black, the service account's deficit widened from a month earlier and the current transfer account marked a net inflow.

The current account, the broadest measure of a nation's trade in goods and services, is one of the components of the nation's total payment flows, or the balance of payments, and is composed of the goods, service, income and current transfer account.

Meanwhile, the nation's capital account, the other component of the balance of payments, posted a new inflow of 6.72 billion U.S. dollars, expanding from a 2.16 billion-U.S. dollar a month earlier.

"The rise in the May capital account came as local banks increased foreign borrowing while overseas investors remained net buyers of local stocks and bonds," an official at the BOK explained.

The South Korean government on Thursday revised up its earlier projection on the 2009 current account surplus, from a 16 billion-U.S. dollar surplus to 25 billion U.S. dollars, while the BOK expects a surplus of 18 billion U.S. dollars.

 
source : Xinhuan     editor:: kevin
  Related Reading
 
 
 
Youth Abuzz more...
manbestie.jpg
Girls' male besties, a trend in gender relations
· Countering elite outflow a pressing task
· Shunning sex education no good for teenagers
· Disrespect for life leads to discarded baby’s tragedy
Opinion more...
tightenpolicy.jpg
"Tough love" policies cool passion for property
· Security situation in Iraq faces new challenges
· Grim trade outlook may prove bittersweet for China's economy
· Economic sanctions on Syria double-edged sword
· Economic downturn no excuse for shirking environmental responsibility
· China likely to keep prudent monetary policy
· NY protests offer warning to Chinese rich