In September 2022, the current account recorded a surplus of $1.61 billion in September improving markedly from a deficit of US $3.05 billion in the previous month. The balance of goods surplus decreased from US $9.55 billion in the same month of the previous year to US $490 million. A deficit in the service balance was the same in the same month of the previous year due to the narrowing of the transportation balance surplus. Transfer income balance realized a deficit of $380 million and expanded from $0.6 billion to $340 million. Foreign investment by Koreans increased by US $4.78 billion, and domestic investment increased by 4.7 billion dollars. source: The Bank of Korea

Current Account in South Korea averaged 1898.16 USD Million from 1900 until 2022, reaching an all time high of 12409.70 USD Million in June of 2016 and a record low of -3845.00 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 November of 2022.

Current Account in South Korea is expected to be 1600.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Korea Current Account is projected to trend around 7900.00 USD Million in 2023, according to our econometric models.

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South Korea Current Account



Calendar GMT Actual Previous Consensus TEForecast
2022-10-06 11:00 PM Aug $-3.05B $0.79B $0.5B
2022-11-07 11:00 PM Sep $1.61B $-3.05B $-1B
2022-12-08 11:00 PM Oct $1.61B $0.8B


Related Last Previous Unit Reference
Current Account 1610.00 -3050.00 USD Million Sep 2022
Current Account to GDP 4.90 4.60 percent of GDP Dec 2021
External Debt 638980.80 662038.10 USD Million Sep 2022
Terms of Trade 85.40 85.50 points Sep 2022
Capital Flows 4671.60 -613.00 USD Million Sep 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
1610.00 -3050.00 12409.70 -3845.00 1900 - 2022 USD Million Monthly
Current Prices, NSA

News Stream
South Korea Current Account Turns Expansionary
In September 2022, the current account recorded a surplus of $1.61 billion. The balance of goods surplus decreased from US $9.55 billion in the same month of the previous year to US $490 million. A deficit in the service balance was the same in the same month of the previous year due to the narrowing of the transportation balance surplus. Transfer income balance realized a deficit of $380 million and expanded from $ 0.6 billion to $340 million. Foreign investment by Koreans increased by US $4.78 billion, and domestic investment increased by 4.7 billion dollars.
2022-11-08
South Korea's Current Account Dives Further into the Red
South Korea’s current account posted a deficit of $3.05 billion in August 2022, turning negative after last month’s downwardly revised surplus of $0.79 billion. Goods balance went further into negative territory due to soaring import costs of energy and other commodities, recording a 4.45 billion dollar deficit. The services account recorded a deficit of 0.77 billion, improving slightly from one year earlier. The primary account surplus increased to 2.24 billion dollars in line with an increase in income on equity. The secondary income amount was a 0.07 billion dollar deficit.
2022-10-06
South Korea Current Account Surplus Slumps in July
South Korea’s current account posted a surplus of $1.09 billion in July 2022, remaining positive for the third straight month but falling sharply from June’s $5.61 billion surplus as the goods balance turned negative for the first time in about ten years due to soaring import costs of energy and other commodities. The July figure was also much lower than the $7.71 billion surplus logged in the same period a year earlier. The goods account recorded a $1.18 billion deficit in July, down from the $5.55 billion surplus seen one year earlier. The services account recorded a $0.34 billion surplus, up from the $0.28 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account surplus decreased from $2.84 billion the year previously to $2.27 billion in July 2022. The secondary income account recorded a $0.34 billion deficit.
2022-09-06