South Korea - Current Account Balance

South Korea: Current Account Balance

Mnemonic	TAB.IKOR
Unit	Mil. USD, NSA
Adjustments	Not Seasonally Adjusted
	Monthly	3.03 %
Data	Nov 2021	7,156
	Oct 2021	6,945

Series Information

Source	The Bank of Korea
Release	Balance of Payments
Frequency	Monthly
Start Date	1/31/1980
End Date	11/30/2021

South Korea: Trade

	Reference	Last	Previous	Units	Frequency
Balance of Goods	Dec 2021	-586,000	3,061,000	Ths. US$, NSA	Monthly
Exports of Goods	Dec 2021	60,735,000	60,412,000	Ths. US$ NSA	Monthly
Imports of Goods	Dec 2021	61,321,000	57,351,000	Ths. US$ NSA	Monthly
Current Account Balance	Nov 2021	7,156	6,945	Mil. USD, NSA	Monthly
Exports of Goods and Services	2021 Q3	221,543	203,788	Bil. KRW, SA	Quarterly
Imports of Goods and Services	2021 Q3	201,569	190,041	Bil. KRW, SA	Quarterly
Net Exports	2021 Q3	19,974	13,746	Bil KRW, SA	Quarterly
Real Exports of Goods and Services	2021 Q3	208,302	204,704	Bil. Ch. 2015 KRW, SA	Quarterly
Real Imports of Goods and Services	2021 Q3	178,128	179,354	Bil. Ch. 2015 KRW, SA	Quarterly
Real Net Exports	2021 Q3	30,173	25,350	Bil. Ch. 2015 KRW, SA	Quarterly

Release Information

Description

The Balance of Payments statistics are published by the Central Bank of Korea (BOK) on a monthly basis and are disseminated according to the IMF's sixth edition of the Balance of Payments Manual standard (BPM6) in time series format. The BOK provides bilateral balance of payment statistics, for both current account and capital and financial account, and seasonally adjusted current account statistics. Quarterly from 1980.

Methodology

BOP concepts and definitions are broadly consistent with the recommendations of the IMF BPM6 framework. In particular,

Current, capital, and financial accounts of the balance of payments statement are defined according to the guidelines of the BPM6, and the current account balance is equal (with sign reversed) to the net capital and financial account balance.
In constructing the balance of payments statement, a double-entry system is applied as a basic principle, and the net residual is embedded in the errors and omissions item.
A clear distinction is made between the income component and the goods and services components.
The financial account provides for a separate recording of transactions in assets and transactions in liabilities.
The directional principle is applied in recording foreign direct investment.

The data are split up in four main headings:

Current account: goods and services, income and current transfers;
Capital and financial accounts: capital transfers and other (that includes information of the acquisition/disposal of nonproduced nonfinancial assets) in the capital account; and direct investment, portfolio investment, financial derivatives, and other investment in the financial account;
Change in reserve assets; and
Net errors and omissions.