South Korea’s Nov current account turns to deficit from surplus in Oct

FILE PHOTO: The skyline of central Seoul is seen during a foggy day in Seoul March 4, 2015. REUTERS/Kim Hong-Ji

SEOUL (Reuters) — South Korea had its third month of current account deficit in 2022 in November, mainly hit by still high import costs of energy at a time of shrinking exports, central bank data showed on Tuesday.

The country’s current account turned to a deficit of $621.7 million in November 2022 from a surplus of $883.4 million in October, the Bank of Korea’s data showed. It was the third month of deficit in 2022 including April and August.

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