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South Korea posts record current account surplus SEOUL: 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. The value of imports from January to June stood at $218.8 billion, down 18.3 percent from a year ago, with the value of crude ...

Head of Greek statistics office says he will not renew his term ATHENS: The head of Greece's statistics office, Andreas Georgiou, told Reuters on Sunday he will not seek to renew his term of office when it expires. A veteran IMF statistician, Georgiou was appointed head of ELSTAT in 2010 in an effort to restore the credibility of Greek statistics a few months after the country's debt crisis erupted. Copyright Reuters, 2015 ...
South Korea July exports fall, outlook on China grows gloomier SEOUL: South Korean exports extended their losing streak to a seventh straight month in July, pointing to little respite in sight for Asia's trade-reliant economies as Chinese demand cools and global commodity prices take a fresh tumble.Exports fell 3.3 percent on-year to $46.61 billion in July while imports slumped 15.3 percent to $38.85 billion, generating a trade surplus of $7.76 billion in July, trade ministry data showed on Saturday.It was slightly better than a median ...
China July factory growth unexpectedly stalls: official PMI survey BEIJING: Growth at China's big manufacturing companies unexpectedly stalled in July as demand at home and abroad weakened, an official survey showed on Saturday, reinforcing views that the economy needs more stimulus as it faces fresh risks from a stock market slump.The official Purchasing Managers' Index (PMI) stood at 50.0 in July, compared to the previous month's 50.2. The 50-point mark separates growth from contraction on a monthly basis.Analysts polled by Reuters had predicted another ...
Turkey's July exports $10.86 billion, down 13pc: exporters ISTANBUL: Turkish exports fell 13 percent from a year earlier in July to $10.86 billion, the Turkish Exporters' Assembly (TIM) said on Saturday, while exports in the first seven months were down 8.8 percent to $84.37 billion.TIM releases its figures almost a month before the state statistics office.Copyright Reuters, 2015 ...
India's April-June fiscal deficit touches $44.9bn NEW DELHI: India's fiscal deficit during April-June touched 2.87 trillion rupees ($44.86 billion) or 51.6 percent of the target for the 2015/16 fiscal year ending in March 2016, government data showed on Friday.The deficit was 56.1 percent during the same period a year ago.Copyright Reuters, 2015 ...
Spain's FCC warns of slowdown in growth this year MADRID: Indebted Spanish services and construction group FCC, majority owned by Mexican billionaire Carlos Slim, said growth in its core profits would be slower than expected this year as the pace of the country's economic recovery was not matched in the construction sector. FCC, which reported a 9.5 percent drop in its Spanish construction business for the period, said group earnings before interest, tax, depreciation and amortisation (EBITDA) would rise by between 2.5 and 3 ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln