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SEOUL, Nov 28 (Reuters) - South Korea’s current account surplus surged to a record high in October as exports grew more than imports, central bank data showed on Thursday, highlighting one of the factors behind persistent upward pressure on the won.
Asia’s fourth-largest economy posted a current account surplus of $7.92 billion in October on a seasonally adjusted basis, up sharply from a revised $4.93 billion surplus in September, the Bank of Korea data showed.
Exports grew 4.4 percent from September to a record $50.17 billion on a seasonally adjusted basis, while imports rose by 1.9 percent to $43.92 billion, producing a goods account surplus of $6.25 billion, the data showed.
South Korea has posted a current account surplus every month since early 2009.
Without adjustment for seasonal patterns, the current account surplus in October was $9.51 billion, also a record, up from $6.54 billion in September, the data showed.
On the financial account, South Korea saw a net outflow of $10.09 billion in October, compared to a net outflow of $4.54 billion in the previous month. (Reporting by Jungmin Jang; Editing by Choonsik Yoo and John Mair)