South Korea’s current account surplus widened to $11.66 billion in October of 2020 from $7.83 billion in the same month of the previous year. The goods account surplus widened to $10.15 billion compared to $8.03 billion in October 2019, while the services account deficit declined to $0.66 billion from $1.72 billion, owing to an improvement in the travel and transport accounts. Meanwhile, the primary income account surplus widened to $2.45 billion from $1.83 billion the year previously, in line with an increase in the investment income. Lastly, the secondary income account booked a $0.28 billion deficit (vs $0.31 billion). The YTD surplus widened to $54.97 billion from $49.67 billion. source: The Bank of Korea
Current Account in South Korea averaged 1714.18 USD Million from 1900 until 2020, reaching an all time high of 12409.70 USD Million in June of 2016 and a record low of -3845 USD Million in August of 2008. This page provides the latest reported value for - South Korea Current Account - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Korea Current Account - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Current Account in South Korea is expected to be 4500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in South Korea to stand at 4500.00 in 12 months time. In the long-term, the South Korea Current Account is projected to trend around 4100.00 USD Million in 2021, according to our econometric models.