South Korea’s current account surplus widened to $11.51 billion in December of 2020 from $4.33 billion in the same month of the previous year. The expansion was mainly driven by the goods account surplus, up to $10.5 billion from $5.6 billion in the same month of the previous year, as exports grew to $52.59 billion from $47.66 billion, while imports remained practically unchanged at $42.09 billion (vs. $42.06 billion). Meanwhile, the services account gap narrowed to $0.05 billion from $0.26 billion. The primary income surplus narrowed to $2.19 billion from $2.56 billion, whereas the secondary income deficit narrowed to $0.65 billion from $0.93 billion. For the whole year, South Korea recorded a $75.28 billion surplus, up from $59.68 billion in the previous twelve months. source: The Bank of Korea
Current Account in South Korea averaged 1749.18 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 March 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.