South Korea's current account surplus narrowed to USD 4.33 billion in December 2019 from USD 4.91 billion in the same month the previous year, well below the USD 8.28 billion expected by consensus. The goods surplus narrowed to USD 5.03 billion from USD 6.63 billion a year ago as exports slumped 3.5 percent mainly dragged by lower prices and volumes for semiconductors, whereas the services deficit widened to USD 2.50 billion from USD 1.85 billion mainly affected by a deficit in travel. Meanwhile, the primary income surplus increased to USD 2.68 billion from USD 0.88 billion a year earlier, whereas the secondary income gap widened to USD 0.87 billion from USD 0.74 billion. Considering the whole year, the country's current account surplus decreased to USD 59.97 billion, the smallest for seven years.
Current Account in South Korea averaged 1635.52 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 2021, according to our econometric models.