SKorea's current account surplus narrows in August

SKorea's current account surplus narrows in August

SEOUL (Thomson Financial) - South Korea's current account surplus narrowed in August on higher overseas payments of royalties, interest and dividends and a smaller trade surplus, the Bank of Korea said Tuesday.

The central bank said the current account was in surplus by 610.3 million US dollars last month, compared to a revised surplus of 1.55 billion dollars in July. The figure for July was initially reported at 1.64 billion dollars.

August was the fourth straight month that a surplus was registered.

A surplus in August is uncommon. In previous years the current account has often been in deficit in August because of outbound tourism during the vacation season. But exports were brisker this August than in previous years.

The current account is the broadest measure of trade, covering the flow of goods, services and investment income across border