South Korea's current account surplus with U.S. and China hit five-year low in 2017
- 6 years ago
지난해 대미ㆍ대중 경상수지 흑자, 5년만에 최저치 기록
The nation's current account surplus with the world's two largest economies, the U.S. and China, hit a five-year low.
According to the Bank of Korea, goods account surplus with Washington dipped below forty billion U.S. dollars last year, down from 2016's forty-two-point-six billion due to sluggish automobile and autoparts exports.
The current account surplus fell even more sharply, recording 25-point-six billion dollars in 2017, down 18 percent on-year, as Seoul's service account deficit with America widened on an increasing deficit in shipping and advertising.
Current account surplus with Beijing also hit a five-year low: just under 43 billion dollars due to a plunge in the travel account.
The number of Chinese visitors to Korea was nearly halved due to a travel ban imposed over THAAD.
The nation's current account surplus with the world's two largest economies, the U.S. and China, hit a five-year low.
According to the Bank of Korea, goods account surplus with Washington dipped below forty billion U.S. dollars last year, down from 2016's forty-two-point-six billion due to sluggish automobile and autoparts exports.
The current account surplus fell even more sharply, recording 25-point-six billion dollars in 2017, down 18 percent on-year, as Seoul's service account deficit with America widened on an increasing deficit in shipping and advertising.
Current account surplus with Beijing also hit a five-year low: just under 43 billion dollars due to a plunge in the travel account.
The number of Chinese visitors to Korea was nearly halved due to a travel ban imposed over THAAD.