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South Korea July current account surplus inches up SEOUL: South Korea's seasonally adjusted current account surplus rose slightly in July from June but imports grew for a third consecutive month, central bank data showed on Thursday, a sign of improving domestic demand. Asia's fourth-largest economy posted a current account surplus of $6.74 billion in July in seasonally adjusted terms, up from a revised $6.32 billion surplus in June, Bank of Korea data showed. The goods-account surplus slid in July from June as imports fared better than exports, but a rise in the service-account surplus more than offset it.Exports edged down by a seasonally adjusted 0.2 percent whereas imports grew 0.4 percent."We're seeing some activity in spending and the real estate market, although it's still early to say that domestic demand is on a full recovery," said Stephen Lee, economist at Samsung Securities. Imports grew for a third consecutive month in July, the longest gaining run since late 2009. ...


Japan MOF to request record $249bn for 2015/16 debt servicing TOKYO: Japan's finance ministry will request a record 25.8238 trillion yen ($248.9 billion) for debt servicing costs in an annual budget for the next fiscal year from April 2015, a document obtained by the Reuters showed, reflecting snowballing public debt.Ministries and government offices are due to submit their budget requests for the next fiscal year by the end of August, which will be scrutinised by the finance ministry by late December when the government compiles ...

Philippine Q2 GDP growth fastest in five quarters, rate hike likely MANILA: The Philippine economy grew at its fastest pace in more than a year in the second quarter, strengthening views the central bank will raise interest rates again to curb inflation.The Southeast Asian economy remains a popular investment destination due to relatively strong economic fundamentals, a stable political environment and improved credit ratings.Standard & Poor's raised the country's long-term credit ratings in May to two notches above investment grade.After a slow start to the year, ...

Thai August inflation rate seen up slightly at 2.20pc y/y BANGKOK: Thailand's annual headline inflation rate in August may have risen slightly to 2.20 percent with the core rate little changed at 1.80 percent, a Reuters poll showed.In July, headline inflation was weaker than expected at 2.16 percent after hitting a 14-month high of 2.62 percent in May.Core inflation, which strips out fresh food and energy prices, may have matched July's figure of 1.81 percent, well inside the central bank's target range of 0.5-3.0 percent.Inflation ...

China's local govts can swap out of pricey debt BEIJING: China's local governments can swap high-interest debt previously sold by their financing companies for more cost-effective municipal bonds, Finance Minister Lou Jiwei said. In a speech in parliament about China's fiscal system, Lou said China will control the amount of debt borrowed by its regional governments, but will also improve the way in which they can sell bonds themselves to raise cash. China's rubber stamp parliament is meeting this week and reviewing proposed amendments ...

Japan, India to ink rare earths deal: report TOKYO: Tokyo and New Delhi will next week sign an agreement that will see around 2,000 tons of rare earths imported from India, a report said Thursday, as Japan looks to diversify supply away from China.Japanese Prime Minister Shinzo Abe and his Indian counterpart Narendra Modi are expected to agree on the deal at their summit in Tokyo on Monday, the Nikkei newspaper reported.Some 2,000 to 2,300 tons of rare earths -- roughly 15 percent ...

South Korea current account surplus inches down in July SEOUL: South Korea registered a nearly $8.0 billion dollar current account surplus in July but saw the figure slip marginally from the previous month, the central bank said.The current account, the broadest measure of foreign trade in goods and services, showed a surplus of $7.91 billion compared to $7.92 billion the previous month and down from $7.99 billion a year earlier, the Bank of Korea said.With the July figure, the surplus for Asia's fourth-largest economy ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln