Current Account in Korea
Korea - Current Account (billions of U.S. Dollars)Although 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 (USD bn) Data
|Current Account Balance (USD bn)||105||97.9||75.2||77.5||60.0|
5 years of economic forecasts for more than 30 economic indicators.
Korea Current Account (USD bn) 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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December 2, 2021
Consumer prices rose 0.40% in November over the previous month, accelerating from October's 0.13% increase.
December 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 50.9 in November from October's 50.2.
December 1, 2021
Merchandise exports shot up 32.1% year-on-year in November, following October’s 24.1% jump.
November 30, 2021
Industrial output expanded 4.5% in year-on-year terms in October, which contrasted September's 1.8% decrease, albeit largely benefiting from a favorable base effect.
November 26, 2021
Business confidence among manufacturing firms came in at 88.0 in December, matching November's reading.