Seoul: South Korea logged a current account surplus for the 24th consecutive month in April, but the surplus narrowed from the previous month due partly to the impact of the United States' tariff scheme. The Bank of Korea (BOK) stated in a report Tuesday that the country's current account surplus reached $5.7 billion in April, narrowing from a $9.14 billion surplus the previous month.
According to Qatar News Agency, South Korea has reported a current account surplus every month since May 2023. During the first four months of this year, the cumulative current account surplus stood at $24.96 billion, compared with $17.97 billion recorded during the same period last year.
The goods account logged an $8.99 billion surplus in April as exports climbed 1.9 percent from a year earlier to $58.57 billion. Imports fell 5.1 percent to $49.58 billion. The services account, however, registered a $2.83 billion deficit in April and the primary income account, which tracks the wages of foreign workers, dividend payments from overseas, and interest income, logged a $190 million deficit in April.