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Financial News: South Korea April Current Account Surplus Slips To

South Korea April Current Account Surplus Slips To $1.77 Billion

06/04/2018 - 20:15:00 (RTTNews)

(RTTNews) - South Korea posted a current account surplus of $1.77 billion in April, the Bank of Korea said on Tuesday - down from the $5.18 billion surplus in March.

The goods account surplus narrowed to $10.36 billion, compared to $11.54 billion a year earlier.

The services account deficit narrowed to $1.98 billion from $2.42 billion dollars a year earlier, owing to an improvement in the travel account, the bank said.

The primary income account deficit widened from $4.92 billion in 2017 to $5.86 billion in April 2018, in line with an increase in the payments on equity account.

The secondary income account showed a $0.75 billion deficit.

Looking at the financial account, net assets expanded $0.01 billion during April. Direct investment assets grew $2.14 billion and direct investment liabilities added $0.26 billion.

There was a $4.71 billion increase in portfolio investment assets during the month, and a $0.77 billion increase in portfolio investment liabilities.

Financial derivatives posted a net contraction of $0.75 billion.

In terms of other investment, there was a decline of $4.38 billion in assets and an increase of $3.80 billion in liabilities.

Reserve assets expanded $3.12 billion.

Through the first four months of 2018, the current account surplus is $13.59 billion.

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