The country's current account balance swung back into the red in January due to sluggish exports.

According to tentative data released by the Bank of Korea on Friday, the country's current account balance logged a deficit of four-point-52 billion U.S. dollars in January, reversing from a surplus of two-point-68 billion dollars a month earlier.

The balance of goods posted a deficit of seven-point-46 billion dollars in January, logging a shortfall for the fourth consecutive month to plunge by nine billion dollars from a surplus of one-point-54 billion dollars a year earlier.

The balance of services also marked a shortfall of three-point-27 billion dollars to expand the deficit by two-point-44 billion dollars from a year ago.

Exports slipped 14-point-nine percent on-year in January, the fifth straight month of decline since September last year, while imports increased one-point-one percent on-year.