South Korea’s current account posted a surplus of $1.09 billion in July 2022, remaining positive for the third straight month but falling sharply from June’s $5.61 billion surplus as the goods balance turned negative for the first time in about ten years due to soaring import costs of energy and other commodities. The July figure was also much lower than the $7.71 billion surplus logged in the same period a year earlier. The goods account recorded a $1.18 billion deficit in July, down from the $5.55 billion surplus seen one year earlier. The services account recorded a $0.34 billion surplus, up from the $0.28 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account surplus decreased from $2.84 billion the year previously to $2.27 billion in July 2022. The secondary income account recorded a $0.34 billion deficit. source: The Bank of Korea

Current Account in South Korea averaged 1908.97 USD Million from 1900 until 2022, 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 September of 2022.

Current Account in South Korea is expected to be 3500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Current Account is projected to trend around 7900.00 USD Million in 2023, according to our econometric models.

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South Korea Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-08-04 11:00 PM Jun $5.61B $3.86B $2.8B
2022-09-06 11:00 PM Jul $1.09B $5.61B $4.7B
2022-10-06 11:00 PM Aug


Related Last Previous Unit Reference
Current Account 1090.00 5610.00 USD Million Jul 2022
Current Account to GDP 4.90 4.60 percent of GDP Dec 2021
External Debt 662038.10 654097.80 USD Million Jun 2022
Terms of Trade 84.60 85.90 points Jul 2022
Capital Flows 177.90 4062.50 USD Million Jul 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
1090.00 5610.00 12409.70 -3845.00 1900 - 2022 USD Million Monthly
Current Prices, NSA

News Stream
South Korea Current Account Surplus Slumps in July
South Korea’s current account posted a surplus of $1.09 billion in July 2022, remaining positive for the third straight month but falling sharply from June’s $5.61 billion surplus as the goods balance turned negative for the first time in about ten years due to soaring import costs of energy and other commodities. The July figure was also much lower than the $7.71 billion surplus logged in the same period a year earlier. The goods account recorded a $1.18 billion deficit in July, down from the $5.55 billion surplus seen one year earlier. The services account recorded a $0.34 billion surplus, up from the $0.28 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account surplus decreased from $2.84 billion the year previously to $2.27 billion in July 2022. The secondary income account recorded a $0.34 billion deficit.
2022-09-06
S.Korea Logs Current Account Surplus for 2nd Month
South Korea’s current account posted a surplus of $5.61 billion in June 2022, remaining positive for the second straight month, but still much lower than the surplus logged a year earlier as import bills remained high amid soaring energy and commodity prices. The goods account surplus decreased to $3.59 billion, compared to the $7.55 billion figure seen in June 2021. The services account recorded a $0.49 billion deficit, up from the $1.02 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account surplus increased from $2.56 billion the year previously to $2.77 billion in June 2022. The secondary income account recorded a $0.26 billion deficit.
2022-08-05
S. Korea Logs Current Account Surplus in May
South Korea’s current account posted a surplus of $3.86 billion in May 2022, turning positive from April’s deficit of $0.08 billion, but still much lower than the surplus logged a year earlier as import bills remained high amid soaring energy and commodity prices. The goods account surplus decreased to $2.74 billion, compared to the $6.65 billion figure seen in May 2021. The services account recorded a $0.02 billion deficit, up from the $0.73 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account surplus decreased from $5.03 billion the year previously to $1.45 billion in May 2022. The secondary income account recorded a $0.32 billion deficit.
2022-07-07