Macroeconomic Forecast South Korea

BMI View: South Korea's record breaking US$42.7bn current account surplus in 2009 helped its economy bounce back from the jaws of recession. While we expect further export gains for South Korea through 2010, we do not foresee a repeat of 2009's record-breaking current account surplus. Instead, we expect a more rapid increase in imports relative to exports in 2010, bringing the country's current account down to 3.2% of GDP, from 4.6% in 2009.

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