April saw a current account surplus of USD 5.7 billion, the Bank of Korea said on June 10 based on tentative data on the economy's balance of payments. Shown are containers on June 1 at the wharf of Pyeongtaek Port in Pyeongtaek, Gyeonggi-do Province. (Yonhap News)

By Yoo Yeon Gyeong

April saw the economy's 24th straight month of current account surplus.

The Bank of Korea on June 10 said tentative data on balance of payments for the month found a black figure of USD 5.7 billion, continuing a streak dating back to March last year, when the figure was USD 9.14 billion.

The goods balance finished with a surplus of USD 8.99 billion. Exports inched up 1.9% to USD 58.57 billion year on year, while imports fell 5.1% to USD 49.58 billion.

By export item, risers included semiconductors (16.9%), wireless communication devices (6.3%), pharmaceuticals (22.3%), and steel products (8.1%), while overseas shipments of petroleum declined 13.8% and those of passenger cars fell 4.1%.

The central bank said the growth of outbound shipments was led by the continued strength of information and communications technology items like higher demand for chips as well as the increase in exports of pharmaceuticals and steel products despite weaker performance by cars.

By market, exports rose to the European Union (18.4%), Southeast Asia (8.6%) and China (3.9%) but declined in Japan (5.3%) and the U.S. (6.8%).

dusrud21@korea.kr