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  HOME | Business & Economy (Click here for more)

Japan Posts $20 Billion Current Account Surplus in August

TOKYO – Japan registered a current account surplus of 2.16 trillion yen ($20.1 billion) in August, marking the 62nd straight month that the balance of payments has shown a surplus, the government said on Tuesday.

The figure is 18.3 percent higher compared to the same month last year and 7.9 percent higher than in July, according to data released by the Japanese finance ministry on Tuesday.

Japan’s trade balance showed a surplus of 50.9 billion yen, in contrast with the 74.5 billion yen deficit registered in July.

Exports dropped 8.6 percent year-on-year to 6.08 trillion yen, while imports fell 12.7 percent to 6.03 trillion yen.

The services balance showed a surplus of 23.3 billion yen, a 6.7 percent increase year-on-year and a sharp spike compared to the month before when the indicator had registered a deficit of 229.9 billion yen.

The income account registered a surplus for the eighth straight month in 2019, worth 2.27 trillion yen, a drop of 0.7 percent year-on-year.

The transfer account displayed a deficit worth 184.6 billion yen, which means an 18.6 percent drop year-on-year, however the deficit had doubled compared to the month before.

The balance of payments reflects payments and receipts from foreign trade in goods, services, incomes and transfers, and is considered one of the broadest trade indicators of a country.

 

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