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S Korea current account surplus narrows in April

South Korea's current account surplus narrowed slightly in April, but strong car and steel exports kept it in the black for the 26th straight month, the central bank said Thursday.

SEOUL: South Korea's current account surplus narrowed slightly in April, but strong car and steel exports kept it in the black for the 26th straight month, the central bank said Thursday.

The April surplus stood at $7.12 billion, down 2.2 percent from a revised $7.29 billion in March, the Bank of Korea (BOK) said.

Compared with a year earlier, the surplus was up 56.5 percent from $2.57 billion.

Asia's fourth-largest economy posted an all-time high surplus of $79.88 billion in 2013.

The current account is the broadest measure of cross-border trade.

The service account, which includes outlays by South Koreans on overseas trips, logged a $1.04 billion deficit last month, up from a revised shortfall of $647.8 million in March.

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