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S. Korea Suffers Largest Current Account Deficit in April since 2011

Write: 2020-06-04 09:06:25Update: 2020-06-04 10:01:16

S. Korea Suffers Largest Current Account Deficit in April since 2011

Photo : YONHAP News

South Korea suffered the largest current account deficit in almost a decade in April due to a sharp decline in exports amid the COVID-19 pandemic.

According to preliminary data by the Bank of Korea Thursday, the country posted a current account deficit of three-point-12 billion dollars that month.

It marks the first deficit since April of last year and the largest deficit since January 2011. 

The country's goods account surplus plunged four-point-79 billion dollars on-year to 820 million dollars in April to post the lowest since April 2012.

Exports plunged 24-point-eight percent on-year to 36-point-four billion dollars in April, while imports dropped 16-point-nine percent to 35-point-six billion dollars.

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