South Korea April Current Account Surplus Slips … RTT
South Korea April Current Account Surplus Slips To $1.77 Billion
South Korea posted a current account surplus of $1.77 billion in April, the Bank of Korea said on Tuesday – down from the $5.18 billion surplus in March.
The goods account surplus narrowed to $10.36 billion, compared to $11.54 billion a year earlier.
The services account deficit narrowed to $1.98 billion from $2.42 billion dollars a year earlier, owing to an improvement in the travel account, the bank said.
The primary income account deficit widened from $4.92 billion in 2017 to $5.86 billion in April 2018, in line with an increase in the payments on equity account.
The secondary income account showed a $0.75 billion deficit.
Looking at the financial account, net assets expanded $0.01 billion during April. Direct investment assets grew $2.14 billion and direct investment liabilities added $0.26 billion.
There was a $4.71 billion increase in portfolio investment assets during the month, and a $0.77 billion increase in portfolio investment liabilities.
Financial derivatives posted a net contraction of $0.75 billion.
In terms of other investment, there was a decline of $4.38 billion in assets and an increase of $3.80 billion in liabilities.
Reserve assets expanded $3.12 billion.
Through the first four months of 2018, the current account surplus is $13.59 billion.
by RTTNews Staff Writer