1. The committee decided instead to try to reduce the oil account deficit by cutting consumption and other austerity measures. 2. This is the first time in five years that the invisible trade account deficit is bigger than the trade deficit. 3. Because of the increasing trade surplus, the account deficit is expected to decline significantly this year and next year. 4. Thus, this will likely help boost non-oil exports, curb imports and eventually cut the account deficit. 5. Bank officials expressed worries that the growing invisible trade account deficit was unlikely to be narrowed any time soon as it reflected structural problems in the economy. 6. Bank officials expressed worries that the growing invisible trade account deficit was unlikely to be narrowed any time soon as it reflected structural problems. 7. Countries with a persistent account deficit are advised by the International Monetary Fund and other institutions to boost exports and limit imports. 8. The bank said the invisible trade deficit had been widening due to the growth in foreign investment and interest income, as well as an increasing travel account deficit. 9. The bank said the invisible trade deficit has been widening due to the growth in foreign investment and interest income, as well as an increasing travel account deficit. 10. The January gain was due to a rise in the trade surplus and a decline in the services account deficit, the Bank of Korea said. |
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