S. Korea snaps 11-month current account surplus in April

SEOUL, South Korea logged a current account deficit in April, ending its 11th straight month of surplus due to a decreased trade surplus and dividend payments to overseas investors, central bank data showed Tuesday. The country's current account deficit reached US$290 million in April, a turnaround from a surplus of $6.93 billion in March. April's deficit came as the country's trade surplus decreased and overseas dividend payments increased. The country's goods account racked up a $5.11 billion surplus in April following an $8.09 billion surplus the previous month. The primary income account, which tracks the wages of foreign workers, dividend payments from overseas and interest income, reported a $3.37 billion deficit in April, following a $1.83 billion surplus in March, the data showed. The services account deficit narrowed to $1.66 billion in April from a deficit of $2.43 billion the previous month, the data showed. Source: Yonhap News Agency