S. Korea posts current account deficit in Nov. amid dwindling exports

current account-November

S. Korea posts current account deficit in Nov. amid dwindling exports

SEOUL, Jan. 10 (Yonhap) -- South Korea posted the first current account deficit in three months in November as exports sharply dwindled amid growing worries over a global economic recession, central bank data showed Tuesday.

The country's current account shortfall amounted to US$620 million in November, swinging back from a surplus of $880 million a month earlier, according to the preliminary data from the Bank of Korea (BOK).

It marked the first deficit in three months and also represented a setback compared with the same month a year earlier when the country logged a surplus of $6.82 billion.

During the January-November period, the country's cumulative current account surplus stood at $24.37 billion, sharply down from a surplus of $82.24 billion tallied in the same period a year before, the data showed.

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