South Korea's current account surplus posted 10.36 billion U.S. dollars in May, the largest monthly figure in 2016, central bank data showed on Friday.

The current account balance, the broadest measure of cross-border transactions, came in at a surplus of 10.36 billion dollars in May, staying in black for 51 months since March 2013, according to the Bank of Korea (BOK). It marked the longest monthly surplus in the country's history.

 The surplus tumbled from 10.09 billion dollars in March to 3.37 billion dollars in April, before jumping to 10.36 billion dollars in May.

The May rebound came as trade surplus increased from 9.56 billion dollars in April to 10.74 billion dollars in May amid the faster fall in imports than exports.

Exports, which account for about half of the economy, shrank 2. 4 percent from a year earlier to 42.43 billion dollars in May, while imports slumped 8.6 percent to 31.69 billion dollars.

The falling pace of exports was the lowest in 11 months, helping contribute to the expanded current account surplus last month.

Source:
courtesy of XINHUA NEWS AGENCY

by Xinhua News Agency

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