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  HOME | Business & Economy (Click here for more)

Japan Records Current Account Surplus for 53rd Consecutive Month in November

TOKYO – Japan recorded a current account surplus of 757.2 billion yen ($6.987 billion) in November, its 53rd consecutive positive balance month, the government announced on Friday.

The figure is 43.5 percent lower than in Nov. 2017, and 42.2 percent lower than last October’s surplus, according to data published by the Japanese Ministry of Finance.

Japan had a trade balance deficit of 559 billion yen ($5.2 billion), which contrasts with the surplus of 199 billion yen ($1.8 billion) a year earlier.

Exports increased by 1.9 percent year-on-year to 6.1 billion yen ($63.95 million), while imports increased by 13.5 percent to 7.4 billion yen ($69 million).

The balance of services recorded a surplus of 12.1 billion yen ($111 million), down 36 percent year-on-year. That figure contrasts with October’s 233 billion yen ($2.15 billion) deficit.

The country had an income account balance of 1.43 billion yen ($13.28 million) in November, a year-on-year increase of 8.2 percent.

The transfer deficit was 134.6 billion yen ($1.24 billion), down 35.2 percent from the negative balance recorded a year earlier, and down 26.3 percent from the previous month.

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

 

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