South Korea’s current account posted a slight deficit in April on the back of dividends paid to foreign stock investors amid a shrinking trade surplus.
The Bank of Korea announced on Wednesday that the current account balance turned to a deficit of US$660 million in April. A month earlier, South Korea’s current account had posted a surplus of $4.82 billion in March. One year earlier, the surplus had been $1.36 billion in April 2018.
Even so, the government forecasts that the current account will post a surplus of more than $60 billion this year as it is expected to expand in the second half. Last year, the current account was in the black to the tune of $76.4 billion with a surplus of $28.9 billion in the first half and $47.5 billion in the second half.
The trade surplus shrank to $5.67 billion from $9.62 billion in April, due to falling exports hit by the worsening US-China trade war.
The service account continued to post a deficit of $1.43 billion, but the gap narrowed from $1.98 billion in April as more tourists from Japan and China visited South Korea.
The primary income account also posted a deficit of $4.33 billion due to dividend payments to foreign investors, but the gap narrowed from $5.62 billion a year earlier. The dividend income deficit came to $4.99 billion, down from $6.36 billion a year earlier.
The primary income account indicates the difference between income such as wages and investment income earned by Koreans abroad and earned by foreigners in Korea.
Dividend payments to foreign investors reached $6.78 billion, down from $7.66 billion a year earlier. The dividends sent overseas decreased as earnings of listed companies have shrunk since the fourth quarter of last year.
“The market expected the dividends to be the same size as the one of last year, but the actual amount was smaller than the estimate,” Yang Ho-seok, who heads the Bank of Korea’s balance of payments team, told Asia Times.
The primary income deficit, however, surged from a deficit of $740 million in March, making it the main factor behind April’s current account deficit.
The current account deficit of April is likely to turn to a surplus from May. For the year, the central bank expects the current account to post a surplus of $24.5 billion in the first half and $42 billion in the second half of 2019.
“The current account balance is expected to swing back to the black in May and post a surplus of more than $60 billion this year,” Lee Eok-won, director of the Economic Policy Bureau at the Ministry of Finance, told Asia Times. “Many other institutions agree with us.”
Hi just wanted to give you a brief heads up and let you know a few of the images aren’t loading properly. I’m not sure why but I think its a linking issue. I’ve tried it in two different browsers and both show the same outcome.
Keep working ,remarkable job!
I just couldn’t depart your web site before suggesting that I really enjoyed the standard information a person provide for your visitors? Is gonna be back often to check up on new posts
Hi there very cool website!! Guy .. Beautiful .. Wonderful .. I’ll bookmark your blog and take the feeds additionallyKI’m glad to seek out a lot of helpful information here in the put up, we’d like develop more techniques in this regard, thanks for sharing. . . . . .
It is best to participate in a contest for among the best blogs on the web. I’ll suggest this site!
Perfect work you have done, this web site is really cool with superb info .
Woah! I’m really loving the template/theme of this website. It’s simple, yet effective. A lot of times it’s difficult to get that “perfect balance” between user friendliness and visual appearance. I must say that you’ve done a fantastic job with this. Also, the blog loads extremely quick for me on Firefox. Outstanding Blog!
Some truly prime blog posts on this site, saved to my bookmarks.
Attractive element of content. I just stumbled upon your weblog and in accession capital to assert that I acquire actually enjoyed account your weblog posts. Anyway I will be subscribing on your feeds and even I achievement you get admission to persistently fast.
Excellent read, I just passed this onto a colleague who was doing some research on that. And he just bought me lunch as I found it for him smile So let me rephrase that: Thanks for lunch! “Feeling passionate about something is like getting a peak at your soul smiling back at you.” by Amanda Medinger.
I’m extremely impressed with your writing abilities and also with the layout for your weblog. Is this a paid topic or did you modify it your self? Anyway stay up the excellent high quality writing, it is rare to peer a great blog like this one these days..
As I site possessor I believe the content material here is rattling excellent , appreciate it for your efforts. You should keep it up forever! Best of luck.
You have noted very interesting points! ps nice website .
I?¦ve learn a few just right stuff here. Definitely worth bookmarking for revisiting. I surprise how so much attempt you set to create this type of wonderful informative web site.
I am glad to be a visitant of this arrant site! , thanks for this rare info ! .
Wow! This could be one particular of the most useful blogs We have ever arrive across on this subject. Basically Wonderful. I’m also an expert in this topic therefore I can understand your hard work.
Hi there! I’m at work surfing around your blog from my new iphone! Just wanted to say I love reading your blog and look forward to all your posts! Carry on the great work!
This contained some excellent tips and tools. Great blog publication.
Needed to post you one bit of note so as to thank you again for those extraordinary guidelines you’ve shared here. It was unbelievably generous with you giving openly precisely what a few people would’ve made available as an electronic book in making some bucks on their own, and in particular seeing that you could have done it if you ever wanted. Those tricks as well served to become great way to comprehend most people have a similar passion the same as my very own to know the truth more and more concerning this issue. I believe there are some more pleasurable instances up front for individuals that browse through your blog post.
A lot of thanks for your entire labor on this blog. My niece delights in making time for research and it’s really obvious why. A number of us know all about the powerful method you present useful solutions through this blog and as well as welcome contribution from the others on this issue plus our princess is really becoming educated a whole lot. Take advantage of the rest of the new year. You’re doing a great job.
I’m very happy to read this. This is the kind of manual that needs to be given and not the accidental misinformation that’s at the other blogs. Appreciate your sharing this greatest doc.
I have not checked in here for some time since I thought it was getting boring, but the last several posts are good quality so I guess I will add you back to my daily bloglist. You deserve it my friend 🙂
Aw, this was a really nice post. In idea I want to put in writing like this additionally – taking time and actual effort to make an excellent article… however what can I say… I procrastinate alot and in no way appear to get something done.
whoah this blog is great i love reading your articles. Keep up the great work! You know, a lot of people are searching around for this info, you could aid them greatly.
Its such as you learn my mind! You seem to understand a lot about this, like you wrote the e-book in it or something. I feel that you just can do with some percent to power the message home a bit, however instead of that, this is magnificent blog. A fantastic read. I will certainly be back.
I went over this site and I conceive you have a lot of great info , saved to fav (:.
Pretty component to content. I just stumbled upon your weblog and in accession capital to assert that I get in fact enjoyed account your weblog posts. Anyway I will be subscribing on your feeds or even I success you get admission to persistently rapidly.
I am glad to be a visitant of this thoroughgoing blog! , regards for this rare information! .
It is truly a great and helpful piece of information. I’m glad that you shared this useful information with us. Please stay us informed like this. Thanks for sharing.
Its wonderful as your other articles : D, appreciate it for posting. “Music is the soul of language.” by Max Heindel.
I am often to blogging and i really appreciate your content. The article has really peaks my interest. I am going to bookmark your site and keep checking for new information.
As a Newbie, I am always browsing online for articles that can help me. Thank you
Normally I don’t learn post on blogs, however I would like to say that this write-up very forced me to check out and do so! Your writing style has been amazed me. Thanks, quite nice article.
I think this website has some real wonderful information for everyone :D. “Calamity is the test of integrity.” by Samuel Richardson.
You made a few nice points there. I did a search on the matter and found nearly all persons will consent with your blog.
Perfectly composed content, Really enjoyed studying.
I would like to thnkx for the efforts you have put in writing this blog. I am hoping the same high-grade blog post from you in the upcoming as well. In fact your creative writing abilities has inspired me to get my own blog now. Really the blogging is spreading its wings quickly. Your write up is a good example of it.
I went over this site and I conceive you have a lot of superb information, saved to favorites (:.
Good info. Lucky me I reach on your website by accident, I bookmarked it.
This web page is mostly a stroll-by for all of the information you wanted about this and didn’t know who to ask. Glimpse right here, and also you’ll definitely discover it.
It’s a shame you don’t have a donate button! I’d definitely donate to this outstanding blog! I suppose for now i’ll settle for book-marking and adding your RSS feed to my Google account. I look forward to brand new updates and will talk about this website with my Facebook group. Talk soon!
Excellent read, I just passed this onto a colleague who was doing a little research on that. And he just bought me lunch as I found it for him smile So let me rephrase that: Thank you for lunch!
Good – I should certainly pronounce, impressed with your site. I had no trouble navigating through all tabs and related information ended up being truly easy to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your client to communicate. Nice task..
You made certain fine points there. I did a search on the theme and found a good number of persons will have the same opinion with your blog.
Hi! Do you know if they make any plugins to protect against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any recommendations?
Valuable information. Lucky me I found your site by accident, and I’m shocked why this accident did not happened earlier! I bookmarked it.
Very efficiently written story. It will be helpful to everyone who utilizes it, as well as myself. Keep doing what you are doing – looking forward to more posts.
I think this is among the most significant info for me. And i’m glad reading your article. But wanna remark on some general things, The site style is great, the articles is really nice : D. Good job, cheers
Nice post. I was checking continuously this weblog and I’m inspired! Very helpful information specially the remaining phase 🙂 I handle such information a lot. I used to be seeking this certain information for a very lengthy time. Thank you and good luck.
Great ?V I should certainly pronounce, impressed with your web site. I had no trouble navigating through all the tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your client to communicate. Nice task..