The Bank of Korea has estimated that the nation’s travel account deficit stood at the lowest level in eleven months in March. 

The central bank made the assessment in a tentative report on international balance of payments for the month of March released on Friday. 

According to the report, the travel account deficit reached one-point-three billion dollars in March, down 40 million from the same period last year and the lowest to be posted since April of last year. 

The bank attributed the drop to travel-related income seeing growth for the first time in 15 months on-year. 

The bank cited that the number of Chinese tourists that entered the nation in March grew for the first time in 13 months while the number of Japanese tourists surged some seven percent and American tourists ten-and-a-half percent on-year. 

The bank’s report also estimated that the services account deficit amounted to two-point-two billion dollars, down from three billion posted a year ago and from two-point-six billion dollars recorded last month. 

The bank estimated that the nation’s current account surplus reached nearly five-point-two billion dollars in March, posting growth for the 73rd consecutive month.