FX.co ★ South Korea Posts $0.29 Billion Current Account Shortfall In April

In April, South Korea experienced a current account deficit of $0.29 billion, as reported by the Bank of Korea on Tuesday. This follows a significant surplus of $6.93 billion in March.

Examining the goods account, there was a notable $5.11 billion surplus, driven by an 18.0% annual increase in exports, reaching $58.17 billion. Imports also rose by 9.0%, amounting to $53.06 billion compared to the previous year.

However, the services account endured a $1.66 billion deficit, primarily due to shortfalls in both manufacturing services and travel accounts.

The primary income account registered a $3.37 billion deficit, attributed to reduced equity income, while the secondary income account showed a $0.36 billion deficit.