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. 2014-04-17

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 49763.00 2014-03-15 42977.29 50480.48 14.75 48410.99 2014-04-30 USD Million [+]
Imports 45571.00 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 4192.00 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 106.10 2014-02-15 110.10 122.50 13.10 111.02 2014-03-31 Index Points [+]
Tourist Arrivals 886026.00 2014-02-15 842671.00 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.
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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.
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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.
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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.
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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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