June 4, 2019 / 11:04 PM / 21 days ago

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

SEOUL, June 5 (Reuters) - South Korea posted on Wednesday its first current account deficit in seven years in April on a surge in stock dividend payments amid falling exports, but the balance stayed in the black after adjustment for seasonal factors.

South Korea's current account balance turned to a small deficit of $0.66 billion in April from a revised surplus of $4.82 billion in March, marking the first shortfall since April 2012, central bank data showed.

Dividends paid to foreigners rose to $6.78 billion in April from $2.62 billion in March as most companies pay yearly dividends in April. Trade surplus shrank to $5.67 billion in April from $8.47 billion in March on slowing exports.

Still, the current account posted a big surplus of $3.36 billion in April on a seasonally adjusted basis, extending its run of surplus into the 85th month, although narrowing from a revised $4.33 billion surplus in March, the data showed. (Reporting by Joori Roh; Editing by Choonsik Yoo and Grant McCool)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below