South Korea's current account surplus widened sharply to USD 9.19 billion in October 2018 from USD 5.72 billion in the same month the previous year. The goods account surplus widened to USD 11.00 billion from USD 8.60 billion a year ago, whereas the primary income surplus narrowed to USD 0.96 billion from USD 1.17 billion. Meantime, the services account deficit narrowed to USD 2.22 billion from USD 3.53 billion, whereas the secondary income gap widened to USD 0.54 billion from USD 0.52 billion. Considering January to October, the current account surplus narrowed modestly to USD 66.87 billion from USD 66.94 billion in the corresponding period 2017. Current Account in South Korea averaged 1572.11 USD Million from 1900 until 2018, reaching an all time high of 12287.50 USD Million in September of 2017 and a record low of -3756.80 USD Million in August of 2008.
Current Account in South Korea is expected to be 10680.00 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 7900.00 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.