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S. Korea posts first current account deficit in seven years in April

2019-06-05 0 Dailymotion

4월 경상수지 -6.6억 달러... 7년 만에 적자<br /><br />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 />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 />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 />

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