S. Korean trade surplus shrinks

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SEOUL, Jan. 31 (UPI) -- South Korea's trade surplus shrank in 2006 and its balance of payments fell to a four-year low ugg onlineshop, the central bank said Wednesday.
The trade surplus fell to $29.21 billion in 2006 from $32.68 billion a year earlier ugg schuhe, as increased prices of oil and raw materials offset a double-digit increase in exports, the Bank of Korea said.
The 2006 current account of the balance of payments dropped by more than half ugg winterstiefel, to $6.09 billion from $14.98 billion a year earlier -- due to in part to surging oil and raw-material prices and a rise in overseas tourist spending ugg stövlar sverige, the bank said.
The current-account figure -- the broadest measure of trade Botas ugg, services and investment that flow into and out of a country -- was at its lowest level since a $5.39 billion surplus in 2002 ugg outlet, the central bank said.
The figure was slightly higher than the central bank's estimate of $6 billion ugg baratas, the Yonhap News Agency said.
The current-account surplus is expected to shrink further to $2 billion this year as a widening service-account deficit will likely continue to offset a strong trade surplus www.uggbootsrea.com, said Jeong Sam-yong Ugg boots, head of the central bank's balance of payments statistics team.

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