Current Account in Korea
Korea - Current AccountAlthough the economy performed well in annual terms in Q3, it grew at a softer rate than in Q2, partly due to a less favorable base effect. Meanwhile, underlying momentum weakened as sequential growth slowed. Notably, the annual slowdown came on the back of weaker private consumption growth amid tighter restrictions. Turning to Q4, data is mixed: Consumer confidence improved significantly in October, boding well for consumption, but businesses turned more pessimistic in October–November. Meanwhile, the manufacturing PMI came in at a one-year low in October as supply disruptions hampered the auto sector, while daily average export growth moderated in the same month. On the health front, looser restrictions from 1 November should provide some respite to the domestic market in the final stretch of the quarter.
Korea - Current Account Data
|Current Account (% of GDP)||7.2||6.5||4.6||4.5||3.6|
5 years of economic forecasts for more than 30 economic indicators.
Korea Current Account Chart
Source: Bank of Korea and FocusEconomics calculations.
|Bond Yield||1.68||1.55 %||Dec 31|
|Exchange Rate||1,156||0.21 %||Dec 31|
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November 23, 2021
Consumer confidence rose to 107.6 in November from October's 106.8.
November 2, 2021
Consumer prices increased 0.13% over the previous month in October, below the 0.50% rise logged in September.
November 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) came in at 50.2 in October, down from September's 52.4.
November 1, 2021
Merchandise exports jumped 24.0% in annual terms in October (September: +16.7% yoy).
October 29, 2021
Business confidence among manufacturing firms fell to 88.0 in November from October's 93.0.