Japan's Current Account Surplus Hits Record 34.52 Trillion Yen as Goods Trade Returns to Black
Updated
Updated · Japan Today · May 14
Japan's Current Account Surplus Hits Record 34.52 Trillion Yen as Goods Trade Returns to Black
3 articles · Updated · Japan Today · May 14
34.52 trillion yen marked Japan's current account surplus for the year through March, up 15.0% and the third straight annual record; March alone posted a 4.68 trillion yen surplus, up 29.1%.
1.36 trillion yen in goods trade surplus replaced a 3.03 trillion yen deficit as chip and electronics demand from Taiwan and other Asian markets lifted exports 3.3% to 111.35 trillion yen.
42.28 trillion yen in primary income—up 2.1%—also supported the balance, with a weak yen against the euro inflating dividends and interest from overseas investments.
109.98 trillion yen in imports, down 0.8%, reflected lower oil prices, while the ministry said the impact from the Feb. 28 U.S.-Israeli attacks on Iran was not yet clearly visible in the annual data.
3.88 trillion yen in services trade deficit widened despite a 6.57 trillion yen travel surplus, showing stronger outbound spending and overseas R&D payments are still offsetting part of Japan's external gains.
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Japan's surplus was built on cheap oil. With Mideast turmoil now surging prices, is its economic boom about to bust?