Current Account in Korea

Korea Current Account | Economic News & Forecasts

Korea - Current Account

Economic growth was stable in the third quarter, according to revised GDP data. Private and government consumption growth remained robust, despite weakening slightly, while fixed investment declined at a softer pace and growth in exports of goods and services accelerated. Shifting focus to the fourth quarter, the economy appears more or less on an even keel: Consumer confidence hit a seven-month high in November, while the service sector held up fairly well in October, boding well for household spending. Merchandise exports, however, remain depressed, due to the ongoing trade rift with Japan. Meanwhile, in other news, Korea and Indonesia agreed to a free-trade deal in late November, which is expected to be ratified next year. The deal plans to eliminate tariffs on steel and automobiles, which should benefit Korean manufacturers and provide some relief to the external sector.

Korea - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)5.6  5.6  7.2  6.5  4.6  

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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 Yield1.681.55 %Dec 31
Exchange Rate1,1560.21 %Dec 31

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