After posting a current account surplus for 83 straight months, South Korea recorded a current account deficit for the month of April.<br />Kim Hyesung reports.<br /><br />South Korea's current account recorded a deficit of zero-point-66 billion U.S. dollars in April.<br />That's the first shortfall since April 2012 when exports to the EU fell sharply.<br />The figure is also down from the four-point-eight billion dollar surplus posted in March and one-point-four billion dollar surplus tallied in April 2018.<br />"The current account posted a deficit in April mainly due to higher dividends payouts, which are seasonal. The services account deficit and primary income deficit were larger than the goods account surplus."<br /><br />The Bank of Korea said on Wednesday that dividends paid to stockholders overseas rose four billion dollars on-month to six-point-eight billion dollars as most companies pay yearly dividends in April.<br />The dividends income balance posted a deficit of five billion dollars, contributing to a primary income deficit.<br />The goods account surplus also shrank four billion dollars to 5-point-seven billion dollars in April.<br />Exports dropped six percent on-year on slowing global demand and falling chip prices but imports increased two percent on-year on rising global oil prices.<br />The services account deficit narrowed slightly on better travels account figures thanks to more travelers from China and Japan visiting the country and fewer Koreans travelling abroad.<br />Travel account income was at its highest since November 2014.<br />Kim Hyesung, Arirang News.<br />
