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.


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South Korea Current Account

Actual Previous Highest Lowest Dates Unit Frequency
5974.80 7827.20 12409.70 -3845.00 1900 - 2019 USD Million Monthly
Current Prices, NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-10-07 11:00 PM Aug $5.27B $6.95B $9.31B $8.9B
2019-11-05 11:00 PM Sep $7.48B $5.27B $8.45B $7.9B
2019-12-04 11:00 PM Oct $7.83B $7.48B $7.47B $7.2B
2020-01-06 11:00 PM Nov $5.97B $7.83B $7.9B
2020-02-05 11:00 PM Dec $5.97B $5.2B


News Stream
2019-12-04
South Korea Current Account Surplus Narrows in October
South Korea's current account surplus narrowed to USD 7.83 billion in October 2019 from USD 9.47 billion in the same month the previous year and compared with market expectations of a USD 7.47 billion surplus. The goods surplus fell to USD 8.03 billion from USD 10.52 billion as exports slumped (-14.5 percent) mainly dragged by lower prices and volumes for semiconductors, while the services deficit narrowed to USD 1.72 billion from USD 2.06 billion a year ago. In contrast, the primary income surplus increased to USD 1.83 billion from USD 1.41 billion a year earlier and the secondary income gap declined to USD 0.31 billion from USD 0.41 billion. Considering the first ten months of the year, the country's current account surplus decreased to USD 49.67 billion from USD 67.42 billion in the same period of 2018.

2019-11-05
South Korea Current Account Surplus Narrows in September
South Korea's current account surplus narrowed to USD 7.48 billion in September 2019 from USD 11.01 billion in the same month the previous year and compared with market expectations of a USD 8.45 billion surplus. The goods surplus fell to USD 8.84 billion from USD 13.01 billion as exports slumped (-10.3 percent) due to lower prices for semiconductors and the services deficit widened to USD 2.51 billion from USD 2.47 billion a year ago. In contrast, the primary income surplus increased to USD 1.40 billion from USD 0.97 billion a year earlier and the secondary income gap declined to USD 0.25 billion from USD 0.49 billion. Considering the first nine months of the year, the country's current account surplus decreased to USD 41.46 billion from USD 57.02 billion in the same period of 2018.

2019-10-07
South Korea Current Account Surplus Narrows in August
South Korea's current account surplus narrowed to USD 5.27 billion in August 2019 from USD 8.55 billion in the same month the previous year, as the goods surplus fell to USD 4.77 billion from USD 10.92 billion amid a tumble in exports (-15.6 percent), on lower prices for oil products and semiconductors. Meantime, the services deficit fell to USD 1.80 billion from USD 2.04 billion a year ago, whereas the primary income surplus narrowed to USD 2.56 billion from USD 3.20 billion. Additionally, the secondary income gap narrowed to USD 0.26 billion from USD 0.65 billion. Considering the first eight months of the year, the country's current account surplus narrowed to USD 33.99 billion from USD 46.00 billion in the same period of 2018.

2019-09-04
South Korea Current Account Surplus Narrows in July
South Korea's current account surplus narrowed to USD 6.95 billion in July 2019 from USD 8.55 billion in the same month the previous year, as the goods surplus decreased to USD 6.19 billion from USD 10.79 billion. Meantime, the services deficit fell to USD 1.67 billion from USD 3.09 billion a year ago, while the primary income surplus widened to USD 3.00 billion from USD 1.54 billion. Additionally, the secondary income gap narrowed to USD 0.57 billion from USD 0.68 billion. Considering the first seven months of the year, the country's current account surplus narrowed to USD 28.72 billion from USD 37.45 billion in the same period of 2018.

2019-08-05
South Korea Current Account Surplus Narrows
South Korea's current account surplus narrowed to USD 6.38 billion in June 2019 from USD 7.46 billion in the same month the previous year, as the goods surplus decreased to USD 6.27 billion from USD 9.54 billion. Meantime, the services deficit fell to USD 2.09 billion from USD 2.42 billion a year ago, while the primary income surplus widened to USD 2.27 billion from USD 0.92 billion. Finally, the secondary income gap narrowed modestly to USD 0.57 billion from USD 0.58 billion. Considering the first six months of the year, the country's current account surplus narrowed to USD 21.77 billion from USD 28.90 billion in the first half of 2018.

2019-07-03
South Korea Current Account Surplus Narrows in May
South Korea's current account surplus narrowed sharply to USD 4.95 billion in May 2019 from USD 8.43 billion in the same month the previous year, as the goods surplus decreased to USD 5.39 billion from USD 10.79 billion. Meantime, the services deficit fell to USD 0.90 billion from USD 2.09 billion a year ago, while the primary income surplus widened to USD 1.16 billion from USD 0.48 billion. Finally, the secondary income gap narrowed modestly to USD 0.69 billion from USD 0.74 billion. Considering the first five months of the year, the country's current account surplus narrowed to USD 15.53 billion from USD 21.44 billion in the same period of 2018.


South Korea Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

South Korea Trade Last Previous Highest Lowest Unit
Balance of Trade 2017.12 3325.33 13419.36 -4043.46 USD Million [+]
Current Account 5974.80 7827.20 12409.70 -3845.00 USD Million [+]
Current Account to GDP 4.70 4.90 10.70 -10.50 percent [+]
Imports 43697.71 40719.82 48480.62 38.61 USD Million [+]
Exports 45714.83 44045.15 55115.24 14.75 USD Million [+]
External Debt 458199.90 462061.90 462061.90 80766.40 USD Million [+]
Terms of Trade 90.80 91.50 228.10 82.90 points [+]
Foreign Direct Investment 9844064.00 3612508.00 10820073.00 0.00 USD Thousand [+]
Capital Flows 5336.40 10227.60 12350.90 -3406.90 USD Million [+]
Tourism Revenues 1627000.00 1788400.00 1788400.00 326500.00 USD Million [+]
Tourist Arrivals 1456429.00 1656195.00 1703495.00 213006.00 [+]
Gold Reserves 104.45 104.40 104.45 13.00 Tonnes [+]
Weapons Sales 1083.00 751.00 1083.00 7.00 USD Million [+]
Terrorism Index 0.30 0.29 2.62 0.00 [+]