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Japan’s Current Account Surplus Sets Half-Year Record at ¥17.51 Trillion

Stronger investment income and a trade swing supported by cheaper energy imports lifted the balance in the latest MOF preliminary data.

Overview

  • The surplus for April–September rose 14.1% year on year, according to preliminary figures from the Ministry of Finance.
  • The trade balance flipped to a ¥49.4 billion surplus for the half as exports edged up 0.6% and imports fell 3.8%.
  • For September alone, the current account came to ¥4.4833 trillion, marking an eighth straight monthly surplus.
  • September posted a ¥236.0 billion trade surplus as exports increased 8.6% from a year earlier.
  • Primary income recorded a sizable surplus (¥22.2758 trillion in the half; ¥4.9497 trillion in September), the services deficit narrowed, and residents increased net foreign asset holdings.