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Current Account Turns Red in April after 11 Months in the Black

Written: 2024-06-11 09:29:17Updated: 2024-06-11 09:30:23

Current Account Turns Red in April after 11 Months in the Black

Photo : KBS News

The nation’s current account changed from surplus to deficit in April due to a decrease in the surplus in the goods balance and dividend payments to overseas investors. 

According to tentative data released by the Bank of Korea(BOK) on Tuesday, the current account posted a deficit of 290 million U.S. dollars in April.

The current account, which remained in the black for the eleventh straight month in March, suffered a deficit for the first time since April last year. 

The goods account posted a surplus for the 13th consecutive month in April, but the surplus decreased by nearly three billion dollars from a month ago to five-point-11 billion dollars. 

Exports came to 58-point-one billion dollars in April, up 18 percent from a year earlier, while imports increased nine percent year-on-year to over 53 billion dollars.

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