Japan's Current-Account Surplus Widens in October as Trade Turns Positive

Overview

• Preliminary Finance Ministry data show a ¥2.8335 trillion current-account surplus for October, up year on year and the ninth straight monthly surplus.
• Goods trade shifted to a ¥98.3 billion surplus as exports rose 2.8% to ¥9.657 trillion, outpacing a 0.1% rise in imports to ¥9.559 trillion.
• Export gains were led by semiconductors and electronic parts, engines, and raw materials, with increases to Asia and Western Europe.
• Primary income widened to a ¥34.646 trillion surplus on stronger direct-investment earnings, while the services deficit grew to ¥294.6 billion on larger shortfalls in other services.
• The financial account showed a ¥846.9 billion net asset increase driven by other investment, with a weaker yen and lower oil prices compared with a year earlier; China’s November exports rose 5.9%, offering regional demand context.