South Korea’s current account surplus narrowed to USD 6.95 billion in October of 2021 from USD 11.55 billion in the corresponding month of the previous year, it was the 18th consecutive month with a surplus. The goods surplus decreased to USD 6.95 billion from USD 11.55 billion a year earlier as the exports rose by USD 9.37 billion, while imports jumped USD13.9 billion. Meanwhile, the primary income surplus went to USD 0.67 billion from USD 2.5 billion. At the same time, the services deficit swung to a surplus of USD 0.63 billion and the secondary income recorded a surplus of USD 0.01 billion, after a USD 0.28 billion deficit a year earlier. source: The Bank of Korea

Current Account in South Korea averaged 1866.29 USD Million from 1900 until 2021, 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 December of 2021.

Current Account in South Korea is expected to be 9500.00 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 8600.00 USD Million in 2022 and 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
2021-11-04 11:00 PM Sep $10.07B $7.51B $8B
2021-12-06 11:00 PM Oct $6.95B $10.07B $8.9B
2022-01-07 11:00 PM Nov $6.95B


Related Last Previous Unit Reference
Current Account 6950.00 10067.70 USD Million Oct/21
Current Account to GDP 3.50 3.70 percent of GDP Dec/20
External Debt 610752.90 604166.60 USD Million Sep/21
Terms of Trade 91.70 93.00 points Sep/21
Capital Flows 9766.80 5785.70 USD Million Sep/21

News Stream
South Korea Current Account Surplus Narrows
South Korea’s current account surplus narrowed to USD 6.95 billion in October of 2021 from USD 11.55 billion in the corresponding month of the previous year, it was the 18th consecutive month with a surplus. The goods surplus decreased to USD 6.95 billion from USD 11.55 billion a year earlier as the exports rose by USD 9.37 billion, while imports jumped USD13.9 billion. Meanwhile, the primary income surplus went to USD 0.67 billion from USD 2.5 billion. At the same time, the services deficit swung to a surplus of USD 0.63 billion and the secondary income recorded a surplus of USD 0.01 billion, after a USD 0.28 billion deficit a year earlier.
2021-12-06
South Korea Current Account Surplus Increases in September
South Korea posted a current account surplus of $10.07 billion in September of 2021, compared to $7.51 billion in the previous month, as exports continued to rebound amid a global economic recovery from pandemic-induced slumps. The goods balance registered a $9.45 billion surplus in September, up from $5.64 billion in August. The service account meanwhile logged a deficit of $20 million in September, a reversal from a surplus of $1 billion a month earlier. The primary income account posted a surplus of $750 million in September, lower than the $1.11 billion in August.
2021-11-04
South Korea Current Account Surplus Widens
South Korea’s current account surplus widened to USD 7.51 billion in August of 2021 from USD 6.64 billion in the corresponding month of the previous year. The primary income surplus rose to USD 1.11 billion from USD 0.71 billion a year earlier and the secondary income gap narrowed to USD 0.23 billion from USD 0.27 billion. Also, the services account posted a USD 0.10 billion surplus, switching from a USD 0.88 billion gap, owing to an improvement in the transport account; while the goods surplus narrowed to USD 5.64 billion from USD 7.08 billion.
2021-10-06

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).