South Korea’s current account posted a deficit of $0.08 billion in April 2022 for its first shortfall in two years, following a revised $7.06 billion surplus in March, amid a reduced trade surplus and annual dividend payment to stock investors. The goods account surplus decreased to $2.95 billion, compared to the $4.95 billion figure seen in April 2021. The services account recorded a $0.57 billion surplus, up from the $0.13 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account deficit decreased from $3.91 billion the year previously to $3.25 billion in April 2022. The secondary income account recorded a $0.35 billion deficit. source: The Bank of Korea

Current Account in South Korea averaged 1899.48 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 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 June of 2022.

Current Account in South Korea is expected to be 5500.00 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
2022-05-09 11:00 PM Mar $6.73B $6.42B $4.2B
2022-06-09 11:00 PM Apr $-0.08B $7.06B $5.1B
2022-07-06 11:00 PM May $-0.08B


Related Last Previous Unit Reference
Current Account -80.00 7060.00 USD Million Apr 2022
Current Account to GDP 3.50 3.70 percent of GDP Dec 2020
External Debt 654097.80 628467.80 USD Million Mar 2022
Terms of Trade 85.80 84.00 points Apr 2022
Capital Flows 1688.70 5414.50 USD Million Apr 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
-80.00 7060.00 12409.70 -3845.00 1900 - 2022 USD Million Monthly
Current Prices, NSA

News Stream
South Korea Current Account Turns to Deficit
South Korea’s current account posted a deficit of $0.08 billion in April 2022 for its first shortfall in two years, following a revised $7.06 billion surplus in March, amid a reduced trade surplus and annual dividend payment to stock investors. The goods account surplus decreased to $2.95 billion, compared to the $4.95 billion figure seen in April 2021. The services account recorded a $0.57 billion surplus, up from the $0.13 billion deficit seen one year earlier, owing to a large surplus in the transport account. The primary income account deficit decreased from $3.91 billion the year previously to $3.25 billion in April 2022. The secondary income account recorded a $0.35 billion deficit.
2022-06-10
South Korea Current Account Surplus Narrows
South Korea’s current account surplus posted at $6.42 billion in February 2022, marking the 22nd straight month of surplus but narrowing from the same month last year when the country logged $8.06 billion in surplus as soaring oil prices boosted import bill. The goods balance logged a surplus of $4.27 billion in February, smaller than a surplus of $5.86 billion a year earlier. Exports, which account for half of the South Korean economy, grew 19.1% on-year to $53.87 billion, while imports increased 25.9% to $49.6 billion. The service account, which includes outlays by South Koreans on overseas trips, logged a surplus of $570 million in February, compared with a surplus of $180 million a year earlier. The primary income account, which tracks wages of foreign workers and dividend payments overseas, logged a surplus of $1.71 billion in the month, down from $2.29 billion the previous year.
2022-04-07
South Korea Current Account Surplus Tumbles
South Korea’s current account surplus posted at $1.81 billion in January 2022, marking the 21st straight month of surplus but declining significantly from the same month last year when the country logged $6.78 billion in surplus as imports expanded sharply amid soaring oil and commodity prices. The reading was also much lower than the previous month’s $6.06 billion surplus. The goods account surplus decreased to $0.67 billion, compared to the $5.58 billion figure seen in January 2021. The services account deficit decreased to $0.45 billion, from $0.93 billion in January last year, owing to a large surplus in the transport account. The primary income account surplus decreased from $2.57 billion the year previously to $1.88 billion in January 2022, in line with a decrease in the income on equity. The secondary income account recorded a $0.29 billion deficit.
2022-03-11