S. Korea's current account returns to deficit in April

▲ This file photo taken April 2, 2023, shows a port in the southeastern city of Busan. (Yonhap)

current account-April

S. Korea's current account returns to deficit in April

SEOUL, June 9 (Yonhap) -- South Korea's current account returned to a deficit in April due to decreased dividend payments from overseas and a deficit in the travel-related account, central bank data showed Friday.

The country's current account deficit reached US$790 million in April, swinging from a surplus of $160 million a month earlier, according to the preliminary data from the Bank of Korea (BOK).

In January, the country also suffered a record deficit of $4.21 billion amid an extended decline in outbound shipments.

April's deficit came as a surplus in the goods balance was offset by a deficit in the services account and the primary income account, which tracks wages of foreign workers and dividend payments from overseas, the data showed.

The country posted a goods account surplus of $580 million in April, ending its fifth straight shortfall, the data showed.

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