South Korea's current account surplus narrowed to USD 3.60 billion in February 2019 from USD 3.90 billion in the same month the previous year. The goods surplus declined to USD 5.48 billion from USD 5.57 billion a year ago, as exports fell to USD 40.13 billion (from USD 44.99 billion) and imports decreased to USD 34.65 billion (from USD 39.42 billion). Also, the primary income surplus narrowed to USD 0.36 billion from USD 1.44 billion and the secondary income gap remained almost unchanged at USD 0.5 billion. Meanwhile, the services account deficit went down to USD 1.72 billion from USD 2.61 billion a year earlier. Considering the first two months of the year, the country's current account posted a USD 6.43 billion surplus compared to a USD 6.55 surplus in the same period of 2018. Current Account in South Korea averaged 1547.24 USD Million from 1900 until 2018, 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.
Current Account in South Korea is expected to be 7800.00 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 9850.00 in 12 months time. In the long-term, the South Korea Current Account is projected to trend around 9010.00 USD Million in 2020, according to our econometric models.