South Korea’s current account surplus widened to $8.97 billion in November of 2020 from $5.97 billion in the same month of the previous year. The goods account surplus increased to $9.54 billion from $7.39 billion last year while the services account deficit narrowed sharply to $0.72 billion from $1.89 billion, mainly due to an improvement in the travel and transport accounts. Also, the secondary income shortfall narrowed to $0.28 billion from $0.49 billion a year ago. On the other hand, the primary income account surplus fell to $0.42 billion from $0.97 billion the year previously, in line with a decrease in the investment income. Considering the January to November period, the current account surplus widened to $63.94 billion from $55.64 billion in the same period of 2019. source: The Bank of Korea
Current Account in South Korea averaged 1728.91 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 January of 2021.
Current Account in South Korea is expected to be 7500.00 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 5000.00 in 12 months time. In the long-term, the South Korea Current Account is projected to trend around 4500.00 USD Million in 2022, according to our econometric models.