South Korea posts record current account surplus
South Korea on Monday posted a record current account surplus for the first half of this year as slumping oil prices helped offset the impact of shrinking exports.
The current account -- the broadest measure of foreign trade in goods and services -- showed an unprecedented surplus of $52.4 billion in the six months to June, according to data from the central Bank of Korea.
The surplus for June also hit a record monthly high of $12.2 billion.
The data showed tumbling oil prices that hit multi-year lows since late last year helped push down the value of imports, widening the current account surplus despite falling exports. Exports account for more than a half of the Asia's fourth-largest economy, which imports most of its energy needs from overseas.
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