Seoul: The Republic of Korea recorded a current account surplus for the 24th consecutive month in April, though the surplus narrowed from the previous month, influenced partly by the United States' tariff scheme, as reported by central bank data.
According to Emirates News Agency, the country's current account surplus reached US$5.7 billion in April, a decrease from the $9.14 billion surplus recorded in March. This marks a continuous streak of monthly surpluses since May 2023.
For the first four months of the year, Korea's cumulative current account surplus amounted to $24.96 billion, which is a significant increase compared to the $17.97 billion recorded during the same period last year.
The goods account achieved an $8.99 billion surplus in April, with exports rising by 1.9 percent from the previous year to $58.57 billion. On the other hand, imports saw a decline of 5.1 percent, totaling $49.58 billion.
Conversely, the services account posted a $2.83 billion deficit in April, as reported by the central bank.