South Korea Current Account to GDP

South Korea recorded a Current Account surplus of 3.80 percent of the countrys Gross Domestic Product in 2012. Current Account to GDP in South Korea is reported by the Bank of Korea. From 1980 until 2012, South Korea Current Account to GDP averaged 1.2 Percent reaching an all time high of 11.9 Percent in December of 1998 and a record low of -8.3 Percent in December of 1980. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - South Korea Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
3.80 2.40 11.90 -8.30 4.46 | 2013/12 1980 - 2012 Percent Yearly

TO

South Korea Current Account to GDP
LIST BY COUNTRY

Trade Last Previous Highest Lowest Forecast Unit
Current Account 4524.90 2014-02-15 3290.00 9507.60 -3587.60 5803.97 2014-03-31 USD Million [+]
Exports 49716.83 2014-03-15 42977.29 50480.48 14.75 48410.99 2014-04-30 USD Million [+]
Imports 45552.08 2014-03-15 42043.69 45614.49 38.61 45055.89 2014-04-30 USD Million [+]
Current Account to GDP 3.80 2012-12-31 2.40 11.90 -8.30 4.46 2013-12-31 Percent [+]
Balance of Trade 4164.75 2014-03-15 933.60 6794.27 -4043.46 3405.12 2014-04-30 USD Million [+]
Capital Flows -6917.00 2014-02-15 -4480.00 3027.80 -11596.00 -6655.91 2014-03-31 USD Million [+]
External Debt 416595.00 2013-12-31 411015.00 419375.00 83622.00 404007.37 2014-03-31 USD Million [+]
Foreign Direct Investment 3802252.00 2013-11-15 2747393.00 7065714.00 114.00 2991251.83 2014-03-31 USD Thousand [+]
Terms of Trade 119.90 2014-03-15 106.00 122.50 13.10 111.02 2014-03-31 Index Points [+]
Tourist Arrivals 1132155.00 2014-03-15 886026.00 1358909.00 213006.00 1010129.20 2014-03-31 [+]
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Current Account to GDP | Notes
The Current account balance as a percent of GDP provides an indication on the level of international competiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.


RELATED NEWS

Bank of Korea Leaves Monetary Policy Unchanged  
At its April 10th, 2014 meeting, South Korea's central bank held the benchmark interest rate unchanged at 2.5 percent, as widely expected. Under new Governor Lee Ju-yeol, the Bank of Korea cited signs of recovery at home and abroad and uncertainty about the US Federal Reserve's stimulus.
South Korea Unemployment Rate Falls in March  
South Korea jobless rate decreased to 3.5 percent in March of 2014, after reaching a three-year high 3.9 percent in February, thanks to new jobs created in agriculture and social services.
South Korea Trade Surplus Widens 25.7% YoY in March  
South Korean trade surplus increased to USD 4.19 billion in March of 2014, up from a USD 933 million surplus in the previous month and USD 3.33 billion surplus a year earlier. Exports jumped to the second-highest value on record due to higher demand from the US and the EU.
South Korea Inflation Rate Accelerates in March  
South Korean consumer prices rose in March of 2014 to an annual rate of 1.3 percent, up from 1 percent in February. The inflation rate rose for the first time in four months to a seven-month high, mainly due to higher childcare cost.
South Korea GDP Advances 0.9% QoQ in Q4  
South Korean GDP advanced a seasonally adjusted 0.9 percent on quarter in the fourth quarter of 2013, in line with expectations and unchanged from the advance estimate.
South Korea GDP Growth Revised Down to 3.7% YoY  
In the fourth quarter of 2013, South Korean GDP advanced 3.7 percent over a year earlier, down from an initial 3.9 percent estimate. Exports, government spending and contruction investment rose at a slower pace than initially estimated.
Bank of Korea Holds Rates  
At its March 13th, 2014 meeting, South Korea’s central bank decided to hold the base rate unchanged at 2.5 percent, citing mixed signs of a global recovery.
South Korea Unemployment Rate Hits 3-Year High  
In February of 2014, South Korean seasonally adjusted jobless rate rose to 3.9 percent, up from 3.2 percent in the previous month. While the number of job seekers increased as the season for graduation and recruitment led more young people to actively look for job, the number of people in work hit its highest level in 15 years.
South Korea Inflation Rate Slows in February  
South Korea annual inflation rate eased to a four-month low 1 percent in February of 2014, down from 1.1 percent in the previous two months.
South Korea Trade Surplus Narrows over a Year Earlier  
In February of 2014, South Korean trade surplus decreased for the second straight month to USD 926 million, down from USD 1.9 billion a year earlier. Sales in January and February usually show volatility due to the Lunar New Year holidays.
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LATEST NEWS

US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.
Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
Hong Kong Unemployment Rate Unchanged in March  
Hong Kong’ seasonally adjusted jobless rate remained steady at 3.1 percent for the third consecutive period in January to March of 2014, down from 3.5 percent a year earlier.
Hong Kong Inflation Rate Unchanged in March  
Hong Kong annual consumer prices rose 3.9 percent in March of 2014, the same rate recorded in February. In the first quarter of 2014, the inflation rate rose by 4.2 percent over a year earlier. The corresponding increase after netting out the effects of all Government's one-off relief measures was 3.8 percent.
China Cuts Reserve Ratio for Rural Banks  
The People's Bank of China decided to cut the reserve requirement ratio by 2 percentage points for rural commercial banks and by 0.5 percentage point for rural credit cooperatives, aiming to stimulate growth in some parts of the country. The cut will be effective from April 25th, 2014.
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