International Reserves in Korea
Korea - International ReservesAlthough Korea has avoided the strict lockdowns observed in other countries, the economy likely still contracted in annual terms in Q2 for the first time in over a decade, amid weaker domestic and foreign demand. The manufacturing PMI remained deep in contractionary territory through June amid soft output and new orders, while exports were down by a fifth in the second quarter as a whole due to lockdowns abroad. Moreover, muted business sentiment hints at depressed fixed investment in the quarter. More positively, retail sales returned to growth in May, while consumer confidence recovered sharply in May and June. In addition, in early July Parliament approved a third supplementary budget worth KRW 35 trillion (USD 29 billion), taking total spending to fight the pandemic to roughly 14% of GDP. This should provide a boost to activity heading into Q3.
Korea - International Reserves Data
|International Reserves (USD)||368||371||389||404||409|
5 years of economic forecasts for more than 30 economic indicators.
Korea International Reserves 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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August 4, 2020
Consumer prices remained flat in July with respect to the previous month, after a mild 0.15% increase in June.
August 3, 2020
Merchandise exports fell 7.0% year-on-year in July, less steep than the 10.9% year-on-year fall in June, to total USD 42.8 billion (June: USD 39.2 billion).
August 3, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) ticked up to 46.9 in July from 43.4 in June, inching closer to the 50-threshold that separates an improvement from a deterioration in the manufacturing sector over the previous month. July’s reading was driven by a softer contraction in new orders.
July 31, 2020
Mining, manufacturing, and electricity and gas output declined 0.5% year-on-year in June, after slumping 9.8% in May, according to the National Statistics Office for Korea.
July 30, 2020
The Bank of Korea’s forward-looking business confidence indicator for manufacturers rose to 57 in August from July's 51.