South Korea reported a current account surplus of $5.87 billion in June 2023, narrowing from a surplus of $6.06 billion in the same month of the previous year, and well above market expectations of a $260 million surplus. It marked the second straight month of posting a current account surplus and the biggest one since June 2022. The balance of goods posted a surplus of $3.98 billion in June up from a surplus of $3.84 billion a year earlier, while the balance of services deficit widened to $2.61 billion versus $0.59 billion in the same month of the previous year. The primary income account surplus rose to $4.85 billion from $3.08 billion, while the secondary income account posted a deficit of $35 million compared to a $27 million gap a year earlier. Considering the first half of 2023, the country recorded a cumulative $2.44 billion surplus, compared with $24.87 billion during the same period of the prior year. source: The Bank of Korea

Current Account in South Korea averaged 1873.40 USD Million from 1900 until 2023, reaching an all time high of 12409.70 USD Million in June of 2016 and a record low of -4212.30 USD Million in January of 2023. 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 August of 2023.

Current Account in South Korea is expected to be 2500.00 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 8100.00 USD Million in 2024 and 8500.00 USD Million in 2025, according to our econometric models.

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South Korea Current Account



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-06 11:00 PM May $1.93B $-0.79B $-0.65B $-0.5B
2023-08-07 11:00 PM Jun $5.87B $1.93B $0.26B $2.2B
2023-09-07 11:00 PM Jul $5.87B $4.3B


Related Last Previous Unit Reference
Balance of Trade 1652.41 1146.16 USD Million Jul 2023
Current Account 5873.70 1927.20 USD Million Jun 2023
Current Account to GDP 3.20 4.90 percent of GDP Dec 2022
Exports 50347.85 54237.84 USD Million Jul 2023
Imports 48695.44 53091.69 USD Million Jul 2023
External Debt 665050.50 664985.80 USD Million Jun 2023
Terms of Trade 86.80 86.30 points Jun 2023
Capital Flows 4811.60 2724.80 USD Million Jun 2023

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
5873.70 1927.20 12409.70 -4212.30 1900 - 2023 USD Million Monthly
Current Prices, NSA

News Stream
South Korea Posts Biggest Current Account Surplus in a Year
South Korea reported a current account surplus of $5.87 billion in June 2023, narrowing from a surplus of $6.06 billion in the same month of the previous year, and well above market expectations of a $260 million surplus. It marked the second straight month of posting a current account surplus and the biggest one since June 2022. The balance of goods posted a surplus of $3.98 billion in June up from a surplus of $3.84 billion a year earlier, while the balance of services deficit widened to $2.61 billion versus $0.59 billion in the same month of the previous year. The primary income account surplus rose to $4.85 billion from $3.08 billion, while the secondary income account posted a deficit of $35 million compared to a $27 million gap a year earlier. Considering the first half of 2023, the country recorded a cumulative $2.44 billion surplus, compared with $24.87 billion during the same period of the prior year.
2023-08-07
South Korea Current Account Surplus Narrows in May
South Korea’s current account posted a surplus of $1.9 billion in May 2023, shrinking from a surplus of $3.8 billion in the same month of the previous year, and well above market expectations of a $650 million gap. The balance of goods recorded a surplus of $1.82 billion in May narrowing from a surplus of $2.95 billion a year earlier, while the balance of services deficit widened to $0.91 billion in May versus $0.15 billion in the same month of the prior year. The primary income account surplus rose to $1.42 billion from $1.31 billion, while the secondary income account posted a deficit of $39 million compared to a $32 million gap a year earlier.
2023-07-06
South Korea Current Account Turns to Deficit in April
South Korea’s current account posted a deficit of $790 million in April 2023, reversing from a revised current account surplus of $160 million in March, central bank data showed. That was the third monthly deficit this year and brought the cumulative deficit to $5.37 billion. The balance of goods recorded a surplus of $580 million in April compared to a deficit of $1.23 billion in March, while the balance of services posted a narrower deficit of $1.21 billion in April versus $1.9 billion in March. The primary income account also turned negative for the first time in a year, posting a deficit of $90 million, while the secondary income account recorded a narrower deficit of $80 million.
2023-06-08