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.


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South Korea Current Account

Actual Previous Highest Lowest Dates Unit Frequency
4330.90 5974.80 12409.70 -3845.00 1900 - 2019 USD Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
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 $4.33B $5.97B $8.28B $5.2B
2020-03-04 11:00 PM Jan $4.33B $6.3B
2020-04-06 11:00 PM Feb
2020-05-06 11:00 PM Mar $ 4.5B
2020-06-03 11:00 PM Apr


News Stream
South Korea Current Account Surplus Unexpectedly Narrows
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.
2020-02-05
South Korea Current Account Surplus Widens
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.
2020-01-06
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.
2019-12-04
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.
2019-11-05

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).