Korea's current account surplus projected to grow in 2025
The Bank of Korea projects Korea's current account surplus to reach 123.05 billion USD in 2025, an increase of 23.08 billion USD from 2024. This preliminary estimate indicates continued strength, primarily driven by the balance of goods.
Goods balance fuels overall surplus
The total current account balance for Korea is projected to expand significantly in 2025, reaching 123.05 billion USD, up from 99.97 billion USD in 2024.
This robust growth of 23.08 billion USD is predominantly attributed to the strong performance of the balance of goods, which is estimated to increase by 27.16 billion USD to 138.07 billion USD.
While the balance of primary income also shows a modest increase of 1.14 billion USD to 27.92 billion USD, the services balance is expected to worsen further, with a deficit expanding by 5.09 billion USD to -34.52 billion USD.
The balance of secondary income is projected to remain largely stable with a slight decrease of 0.13 billion USD, settling at -8.42 billion USD.
These figures underscore a continued reliance on goods exports for the nation's external balance, despite persistent weaknesses in the services sector.
Divergent trends across key regions
Regional current account balances show varied performances.
The US current account is projected to decrease by 5.55 billion USD to 111.42 billion USD in 2025, mainly due to a worsening services balance.
China's deficit is expected to deepen by 1.87 billion USD to -25.32 billion USD, driven by a widening goods deficit.
Conversely, the EU's current account is forecast to increase by 2.20 billion USD to 24.42 billion USD.
A notable improvement is seen in the Middle East, where the deficit is projected to shrink by 18.20 billion USD to -49.75 billion USD, largely due to an improved goods balance.
Southeast Asia also shows positive growth, with its current account rising by 8.41 billion USD to 71.84 billion USD.