[Breaking] April Current Account Deficit of 790 Million USD... Goods Balance Turns Surplus After 7 Months

[Image source=Yonhap News]

In April, South Korea's current account recorded a deficit of $790 million, turning back to a deficit after one month. However, the goods balance posted a surplus for the first time in seven months.

According to the "Balance of Payments (Provisional)" released by the Bank of Korea on the 9th, the current account recorded a deficit of $790 million in April. The current account showed a deficit of $4.21 billion in January and $520 million in February this year, turned to a slight surplus in March, but returned to a deficit after one month.

However, the goods balance posted a surplus of $580 million, marking a turnaround to surplus for the first time in seven months since September last year. The primary income balance shifted from a surplus of $3.65 billion in the previous month to a deficit of $90 million in April.