(MENAFN- Qatar News Agency) South Korea's central bank said Monday that the country's current account surplus in the first 11 months of this year surpassed its yearly estimate on the back of export growth.
The current account surplus reached US$6.03 billion in November, down from a record high of $9.51 billion in the previous month, according to the Bank of Korea (BOK).
The current account is the broadest measure of cross-border trade.
But Korea posted a surplus for the 22nd straight month in November, with the combined surplus hitting $64.3 billion in the first 11 months of this year, (Yonhap) news agency reported citing BOK data
The cumulative surplus surpassed the BOK's estimate of $63 billion for 2013
The government's 2013 surplus forecast stands at $70 billion
"Exports and imports remained robust for December," Jung Young-taek, director general of the BOK's economic statistics division, told reporters
He declined to comment on whether the total would meet the government forecast
The balance of Korea's goods posted a surplus of $6.18 billion in November, smaller than the surplus of $7.03 billion in October
In November, overseas shipments fell 1.9% on-year to $48.81 billion and imports inched down 0.2% to $42.63 billion.
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