South Korea's current account surplus narrowed to USD 2.29 billion in May 2020 from USD 5.18 billion in the same month of the previous year. The goods account surplus narrowed sharply to USD 2.50 billion from USD 5.50 billion a year ago as exports declined to USD 34.55 billion from USD 48.10 billion and imports fell to USD 32.05 billion from USD 42.60 billion. In contrast, the services shortfall declined to USD 0.48 billion from USD 0.95 billion in May 2019. Meanwhile, the primary income surplus narrowed to USD 0.54 billion from USD 1.29 billion, whereas the secondary income gap declined to USD 0.27 billion from USD 0.67 billion. During the first five months of 2020, the country's current account surplus went down to USD 12.29 billion from USD 16.97 in the corresponding period of 2019.

Current Account in South Korea averaged 1643.99 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 July of 2020. source: The Bank of Korea

Current Account in South Korea is expected to be 5500.00 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.

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South Korea Current Account

Actual Previous Highest Lowest Dates Unit Frequency
2290.00 -3330.00 12409.70 -3845.00 1900 - 2020 USD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-06 11:00 PM Feb $6.41B $1.01B $1.09B $0.6B
2020-05-06 11:00 PM Mar $6.23B $6.37B $1.5B
2020-06-03 11:00 PM Apr $-3.12B $5.96B $0.5B
2020-07-06 11:00 PM May $2.29B $-3.33B $-0.5B
2020-08-05 11:00 PM Jun $2.29B $ 6.9B
2020-09-03 11:00 PM Jul
2020-10-07 11:00 PM Aug
2020-11-04 11:00 PM Sep $ 5.5B
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
South Korea Current Account Surplus Narrows in May
South Korea's current account surplus narrowed to USD 2.29 billion in May 2020 from USD 5.18 billion in the same month of the previous year. The goods account surplus narrowed sharply to USD 2.50 billion from USD 5.50 billion a year ago as exports declined to USD 34.55 billion from USD 48.10 billion and imports fell to USD 32.05 billion from USD 42.60 billion. In contrast, the services shortfall declined to USD 0.48 billion from USD 0.95 billion in May 2019. Meanwhile, the primary income surplus narrowed to USD 0.54 billion from USD 1.29 billion, whereas the secondary income gap declined to USD 0.27 billion from USD 0.67 billion. During the first five months of 2020, the country's current account surplus went down to USD 12.29 billion from USD 16.97 in the corresponding period of 2019.
2020-07-06
South Korea Post Largest Current Account Deficit in Over 9 Years
South Korea's current account deficit widened to USD 3.12 billion in April 2020 from USD 0.39 billion in the same month of the previous year. It was the largest current account gap since January 2011, as the goods account surplus narrowed sharply to USD 0.82 billion from USD 5.61 billion a year ago as exports declined to USD 36.39 billion from USD 48.42 billion and imports fell to USD 35.57 billion from USD 42.81 billion. Also, the services shortfall increased to USD 1.42 billion from USD 1.27 billion in April 2019. Meanwhile, the primary income deficit narrowed to USD 2.29 billion from USD 4.18 billion, and the secondary income gap declined to USD 0.25 billion from USD 0.55 billion. During the first four months of 2020, the country's current account surplus went down to USD 10.21 billion from USD 11.79 in the corresponding period of 2019.
2020-06-03
South Korea Current Account Surplus Widens in March
South Korea's current account surplus widened to USD 6.23 billion in March 2020 from USD 5.04 billion in the same month the previous year. The goods account surplus narrowed to USD 7.0 billion from USD 8.34 billion a year ago as exports declined to USD 46.42 billion from USD 47.98 billion. In contrast, the services deficit decreased to USD 1.46 billion from USD 2.10 billion in March 2019. Meanwhile, the primary income switched from a USD 0.61 billion deficit to a USD 0.93 billion surplus. Lastly, the secondary income account gap narrowed to USD 0.23 billion from a USD 0.58 billion. During the first quarter of 2020, the surplus widened to USD 13.61 billion from USD 12.19 in the corresponding period of 2019.
2020-05-06
South Korea Current Account Surplus Widens
South Korea's current account surplus widened to USD 6.41 billion in February 2020 from USD 3.85 billion in the same month the previous year, well above market expectations of a USD 1.09 billion surplus. The goods account surplus widened to USD 6.58 billion from USD 5.42 billion a year ago as exports rose to USD 41.82 billion from USD 40.21 billion. Meanwhile, the services deficit decreased to USD 1.45 billion from USD 1.54 billion in February 2019, while the primary income surplus expanded to USD 1.25 billion from USD 0.45 billion. Lastly, the secondary income account switched to a USD 0.03 billion surplus from a USD 0.49 billion deficit.
2020-04-06

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).