Current Account in Korea

Korea Current Account | Economic News & Forecasts

Korea - Current Account

The economy regained momentum in the fourth quarter of 2018, after growth slowed significantly in the third quarter. Stronger government spending growth, which surged to a near-decade high due to the government’s accommodative fiscal approach, led the upturn. Meanwhile, private consumption expanded at a steady pace and the external sector contributed significantly to the headline reading in Q4. On the other hand, fixed investment fell due to lower investment spending on construction projects. Turning to 2019, the year began on a sour note: In January, the unemployment rate rose to a multi-year high, although consumers were slightly less pessimistic, while merchandise exports fell for the second straight month. Compounding matters, the U.S. could soon hike its automobile import tariffs in the coming months, which would further drag on Korean exports.

Korea - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)6.2  6.0  7.7  7.0  5.1  

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Korea Current Account Chart

Korea Current Account
Note: Current account balance as % of GDP.
Source: Bank of Korea and FocusEconomics calculations.

Korea Facts

Bond Yield1.991.55 %Mar 11
Exchange Rate1,1340.21 %Mar 11
Stock Market2,138-0.40 %Mar 11

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