South Korea's current account surplus widened to USD 5.97 billion in November 2019 from USD 5.13 billion in the same month the previous year. The goods surplus narrowed to USD 7.39 billion from USD 7.50 billion as exports slumped (-10.2 percent) mainly dragged by lower prices and volumes for semiconductors, whereas the services deficit narrowed to USD 1.89 billion from USD 2.19 billion a year ago. Meanwhile, the primary income surplus increased to USD 0.97 billion from USD 0.34 billion a year earlier and the secondary income gap declined to USD 0.49 billion from USD 0.52 billion. Considering the first eleven months of the year, the country's current account surplus decreased to USD 55.64 billion from USD 72.55 billion in the same period of 2018.
Current Account in South Korea averaged 1629.91 USD Million from 1900 until 2019, 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. source: The Bank of Korea
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 2020, according to our econometric models.