	Balance of Payments

Balance of Payments

by Region, 2022

(preliminary)

June 2023

Economic Statistics Department

Bank of Korea

Current Account Balances by Region

(billion USD)

Region	Item		2019	2020	2021(A)	2022p(B)	B―A
Total	Current Account		59.68	75.90	85.23	29.83	-55.40
		Ⅰ. Balance of goods	79.81	80.60	75.73	15.06	-60.67
		Ⅱ. Balance of services	-26.85	-14.67	-5.29	-5.55	-0.26
		Ⅲ. Balance of primary income	12.86	13.49	19.44	22.88	3.44
		Ⅳ. Balance of secondary income	-6.15	-3.52	-4.66	-2.57	2.09
U S	Current Account		19.11	32.80	45.54	67.79	22.25
		Ⅰ. Balance of goods	28.18	32.87	41.76	56.38	14.61
		Ⅱ. Balance of services	-13.34	-8.33	-4.09	-2.02	2.07
		Ⅲ. Balance of primary income	6.41	8.76	9.24	13.79	4.55
		Ⅳ. Balance of secondary income	-2.15	-0.50	-1.38	-0.36	1.02
China	Current Account		25.96	17.25	23.41	-7.78	-31.20
		Ⅰ. Balance of goods	20.39	14.35	15.58	-10.06	-25.64
		Ⅱ. Balance of services	3.21	0.73	2.88	-0.59	-3.47
		Ⅲ. Balance of primary income	2.18	1.93	4.95	2.64	-2.31
		Ⅳ. Balance of secondary income	0.18	0.24	0.00	0.23	0.22
Japan	Current Account		-19.02	-20.22	-22.20	-17.78	4.42
		Ⅰ. Balance of goods	-13.81	-16.82	-17.69	-15.33	2.36
		Ⅱ. Balance of services	-0.83	0.33	1.85	2.43	0.59
		Ⅲ. Balance of primary income	-4.84	-4.08	-6.38	-4.97	1.41
		Ⅳ. Balance of secondary income	0.46	0.35	0.02	0.08	0.06
E U1)	Current Account		-5.59	-5.90	-0.63	7.04	7.67
		Ⅰ. Balance of goods	8.60	0.99	10.13	13.14	3.01
		Ⅱ. Balance of services	-12.93	-6.65	-8.67	-7.85	0.82
		Ⅲ. Balance of primary income	-1.22	0.20	-2.30	1.85	4.15
		Ⅳ. Balance of secondary income	-0.05	-0.45	0.21	-0.10	-0.32
Southeast	Current Account		83.17	79.20	102.36	80.23	-22.13
Asia		Ⅰ. Balance of goods	77.31	71.45	87.46	68.60	-18.86
		Ⅱ. Balance of services	-0.61	1.72	3.63	4.92	1.29
		Ⅲ. Balance of primary income	9.09	7.57	12.73	7.18	-5.55
		Ⅳ. Balance of secondary income	-2.61	-1.54	-1.46	-0.46	1.00
Middle	Current Account		-53.03	-28.26	-47.98	-88.05	-40.07
East		Ⅰ. Balance of goods	-52.64	-28.78	-47.69	-87.26	-39.57
		Ⅱ. Balance of services	-0.20	0.77	0.10	-0.92	-1.03
		Ⅲ. Balance of primary income	-0.15	-0.32	-0.41	0.00	0.41
		Ⅳ. Balance of secondary income	-0.04	0.08	0.02	0.14	0.12
Central	Current Account		3.99	-0.44	-0.36	-1.66	-1.30
and South		Ⅰ. Balance of goods	2.91	-2.05	-3.51	-3.81	-0.31
America		Ⅱ. Balance of services	0.41	0.61	1.30	1.17	-0.13
		Ⅲ. Balance of primary income	0.72	1.02	1.92	1.06	-0.86
		Ⅳ. Balance of secondary income	-0.05	-0.03	-0.08	-0.08	0.00
Others	Current Account		5.09	1.48	-14.92	-9.96	4.96
		Ⅰ. Balance of goods	8.87	8.59	-10.31	-6.60	3.72
		Ⅱ. Balance of services	-2.55	-3.85	-2.30	-2.70	-0.39
		Ⅲ. Balance of primary income	0.65	-1.59	-0.31	1.34	1.65
		Ⅳ. Balance of secondary income	-1.88	-1.67	-1.99	-2.01	-0.01

Note: 1) As the United Kingdom has withdrawn from the European Union, the U.K. is excluded from the EU starting in 2020.

Financial Account by Region (1)1)2)

(billion USD)

Item		Region	2019	2020	2021(A)	2022p(B)	B―A
Direct Investment (Assets)		Total	35.24	34.83	66.00	66.41	0.41
		U S	11.35	13.43	28.27	27.85	-0.42
		China	3.89	5.35	5.51	7.29	1.78
		Japan	0.42	0.44	1.00	0.61	-0.39
		E U	6.90	5.58	6.24	6.44	0.20
		Southeast Asia	8.46	6.92	14.25	15.34	1.09
		Middle East	0.53	-0.14	0.37	0.26	-0.10
		Central and South America	0.57	2.03	1.28	1.55	0.27
		Others	3.13	1.22	9.08	7.07	-2.01
Direct Investment (Liabilities)		Total	9.63	8.76	22.06	18.00	-4.06
		U S	1.08	-0.02	4.18	0.98	-3.20
		China	-0.03	0.44	1.56	0.77	-0.79
		Japan	2.38	1.56	3.82	3.08	-0.73
		E U	6.35	1.76	4.74	4.40	-0.35
		Southeast Asia	-1.08	1.57	5.46	3.01	-2.45
		Middle East	0.03	0.63	1.02	0.50	-0.52
		Central and South America	0.87	0.75	0.85	2.62	1.78
		Others	0.04	2.09	0.44	2.64	2.20
Portfolio Investment (Assets)		Total	59.64	58.91	78.45	45.64	-32.82
		U S	24.80	50.56	60.37	39.94	-20.43
		China	-1.13	2.90	2.08	-0.56	-2.65
		Japan	2.90	-0.70	0.88	0.69	-0.18
		E U	20.34	4.05	9.86	1.27	-8.59
		Southeast Asia	1.80	-0.37	-0.73	-1.91	-1.18
		Middle East	1.25	1.42	0.57	0.01	-0.56
		Central and South America	4.21	3.08	-0.62	-1.13	-0.52
		Others	5.46	-2.02	6.04	7.32	1.28
	Equity Securities	Total	42.62	56.43	68.53	40.60	-27.93
		U S	18.27	42.59	54.27	34.48	-19.80
		China	-0.36	0.54	1.60	-0.40	-2.01
		Japan	2.27	-0.38	-0.10	1.05	1.14
		E U	14.93	5.98	7.90	0.46	-7.44
		Southeast Asia	1.19	1.26	-0.55	-0.38	0.17
		Middle East	0.23	0.33	0.01	0.19	0.18
		Central and South America	2.58	3.40	0.76	0.49	-0.28
		Others	3.51	2.72	4.64	4.72	0.09
	Debt Securities	Total	17.02	2.48	9.92	5.04	-4.88
		U S	6.53	7.97	6.09	5.47	-0.63
		China	-0.76	2.36	0.48	-0.16	-0.64
		Japan	0.63	-0.32	0.97	-0.35	-1.33
		E U	5.41	-1.94	1.96	0.81	-1.15
		Southeast Asia	0.61	-1.63	-0.18	-1.53	-1.35
		Middle East	1.02	1.09	0.56	-0.18	-0.74
		Central and South America	1.63	-0.31	-1.38	-1.62	-0.24
		Others	1.95	-4.74	1.41	2.60	1.20

Note : 1) Positive figures represent increases in assets/liabilities, and negative figures decreases.

2) Reserve assets are excluded.

Financial Account by Region (2)1)2)

(billion USD)

Item		Region	2019	2020	2021(A)	2022p(B)	B―A
Portfolio Investment (Liabilities)		Total	17.26	17.16	59.09	20.25	-38.84
		U S	-5.15	-12.31	9.64	11.77	2.13
		China	-0.61	0.07	5.55	3.14	-2.41
		Japan	-0.88	-1.28	-3.20	-1.11	2.08
		E U	6.88	3.40	16.81	2.67	-14.14
		Southeast Asia	6.78	19.83	20.47	3.36	-17.11
		Middle East	-1.04	0.99	5.42	0.45	-4.97
		Central and South America	3.61	-2.35	0.59	-2.75	-3.34
		Others	7.66	8.81	3.81	2.74	-1.07
	Equity Securities	Total	0.77	-15.74	-14.96	-4.75	10.21
		U S	-6.65	-12.48	-5.20	4.01	9.21
		China	1.27	0.41	-0.47	-0.08	0.39
		Japan	-0.69	-1.38	-0.64	-0.41	0.23
		E U	0.26	2.82	0.05	-4.14	-4.19
		Southeast Asia	2.15	-4.08	-0.39	-0.24	0.15
		Middle East	-1.05	0.37	-1.84	1.11	2.95
		Central and South America	3.80	-2.47	0.51	-0.94	-1.45
		Others	1.69	1.08	-6.99	-4.06	2.93
	Debt Securities	Total	16.49	32.90	74.05	25.00	-49.04
		U S	1.51	0.18	14.84	7.76	-7.08
		China	-1.87	-0.34	6.02	3.21	-2.81
		Japan	-0.19	0.09	-2.55	-0.70	1.85
		E U	6.62	0.59	16.76	6.81	-9.95
		Southeast Asia	4.62	23.92	20.86	3.60	-17.26
		Middle East	0.01	0.61	7.25	-0.67	-7.92
		Central and South America	-0.18	0.12	0.08	-1.81	-1.89
		Others	5.97	7.73	10.79	6.80	-4.00
Financial Derivatives (Net Assets)		Total	6.23	4.87	-0.06	7.57	7.63
		U S	-1.93	-2.32	-0.84	0.15	0.99
		China	-0.02	0.05	0.06	0.00	-0.06
		Japan	0.04	0.21	0.04	0.31	0.27
		E U	6.39	3.85	0.91	2.22	1.31
		Southeast Asia	1.96	1.45	-1.25	-1.68	-0.42
		Middle East	-0.06	-0.05	-0.01	0.00	0.01
		Central and South America	-0.02	-0.18	-0.14	-0.39	-0.25
		Others	-0.13	1.87	1.17	6.95	5.79
Other Investments (Assets)		Total	-4.71	14.58	26.72	3.82	-22.90
		U S	2.64	13.20	8.93	1.85	-7.08
		China	-1.61	4.51	3.52	-8.39	-11.91
		Japan	1.95	-0.89	0.42	2.53	2.11
		E U	-2.96	3.38	3.57	-1.41	-4.98
		Southeast Asia	-2.80	3.70	3.54	5.15	1.60
		Middle East	0.44	-0.14	0.59	2.19	1.60
		Central and South America	-1.51	-8.26	1.82	-1.08	-2.91
		Others	-0.85	-0.92	4.33	2.99	-1.33
Other Investments (Liabilities)		Total	11.95	23.28	26.32	18.47	-7.85
		U S	-2.10	4.24	2.40	5.28	2.88
		China	3.95	3.12	1.90	-7.65	-9.55
		Japan	-1.12	0.90	-0.70	1.56	2.26
		E U	0.64	7.93	0.25	2.34	2.09
		Southeast Asia	7.48	12.99	3.45	4.85	1.40
		Middle East	2.69	-0.07	1.22	1.99	0.77
		Central and South America	0.95	1.47	1.66	0.33	-1.34
		Others	-0.55	-7.31	16.14	9.77	-6.37

Note : 1) Positive figures represent increases in assets/liabilities, and negative figures decreases.

2) Reserve assets are excluded.