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Financial News: South Korea Posts $0.29 Billion Current Account Shortfall

South Korea Posts $0.29 Billion Current Account Shortfall In April

06/10/2024 - 19:12:00 (RTTNews)

(RTTNews) - South Korea had a current account deficit of $0.29 billion in April, the Bank of Korea said on Tuesday - following the $6.93 billion surplus in March.

The goods account saw a $5.11 billion surplus as exports increased annually by 18.0 percent to $58.17 billion and as imports increased by 9.0 percent to $53.06 billion, both compared to one year earlier.

The services account posted a $1.66 billion deficit owing to deficits in the manufacturing services and travel accounts.

The primary income account recorded a $3.37 billion deficit due to a decrease in the income on equity. The secondary income account had a $0.36 billion deficit.

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