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Biz News Korea(Eng)

Korea’s Apr current surplus -30.4% amid dividend season

Collected: 2017.06.05

Distributed: 2017.06.08

Source: Go Direct

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South Korea’s April current account surplus narrowed 30.4 percent from the previous month as services segment maintained a deficit on sharp fall in Chinese tourists and the Korean Inc. gave out generous dividend payouts after record performance last year.

According to a preliminary balance of payments data released by the Bank of Korea Monday, the nation’s current account surplus was reduced to $4 billion from $5.75 billion in March but higher than $3.76 billion in the same month last year.

The country extended longest-ever surplus streak to 62 months.

The current account surplus fell on month in April largely owing to the sharp fall in the nation’s services account. The deficit in services account expanded to $2.38 billion in April from $1.53 billion a year earlier. Deficit in travel account was the primary reason behind the red figures in the services account.

Deficit in dividend income stretched $5.33 billion from $850 million in March.

Goods account surplus in April rose to $11.93 billion from $9.62 billion in March to mark the biggest surplus in the 10 months thanks to strong demand in ships and semiconductors.

Exports rose 24.1 percent to $50.97 billion from $41.08 billion in the same month of last year, while imports grew 17.3 percent on year to $37.99 billion.

By Boo Jang-won

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