Key facts
- South Korea's current account surplus narrowed to $28.29 billion in April.
- The April surplus decreased from $37.93 billion in March.
- The primary income account shifted to a deficit of $2.53 billion in April.
- The goods surplus increased to $33.88 billion in April.
- Exports rose 54.5% year-over-year in April.
- The 12-month rolling current account surplus reached a record high of $201.73 billion.
South Korea's current account surplus narrowed to $28.29 billion in April, down from $37.93 billion in March and $4.51 billion in April of the previous year, according to the Bank of Korea. The decrease was largely driven by the primary income account shifting to a deficit of $2.53 billion from a surplus of $3.59 billion in March. However, the goods surplus saw a significant increase, jumping to $33.88 billion from $9.78 billion a year earlier, fueled by a 54.5% year-over-year rise in exports to $90.59 billion, while imports grew 16.1% to $56.70 billion. The services deficit narrowed to $2.42 billion. On a seasonally adjusted basis, the current account surplus fell 6.3% month-over-month to $33.39 billion, but the 12-month rolling surplus reached a record high of $201.73 billion. The financial account recorded net outflows of $25.46 billion.