S. Korea's current account records largest deficit since 2011
Updated: 2020-06-04 13:24:35 KST
South Korea's current account recorded a deficit for the month of April, turning negative for the first time in twelve months as the pandemic hit the country's exports.
According to Bank of Korea, the deficit came to 3.1 billion U.S. dollars, the biggest deficit since 2011.
It attributed the drop mainly to the slump in exports, which plunged 24.3-percent compared to a year earlier.
The biggest decline was in petroleum products and automobiles, bringing the surplus in the goods account to an eight-year low.