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Japan logs $20 b current account surplus

Japan logs $20 b current account surplus

TOKYO, Oct. 9 (Xinhua): Japan posted a current account surplus of 2.16 trillion yen (20 billion U.S. dollars) in August, the Finance Ministry said in a report on Tuesday. The latest reading marks the 62nd successive month the current account has been in surplus. The ministry also said in its preliminary report that the country had a goods trade surplus of 50.9 billion yen (474 million U.S. dollars), while services trade stood at a surplus of 23.3 billion yen (217 million U.S. dollars) in the reporting period. Japan’s primary income, which reflects returns on investments made overseas, logged a surplus of 2.27 trillion yen (21 billion U.S. dollars), the ministry also said. Japan’s current account surplus is one of the broadest measures of its trade with the rest of the world. The data is keenly eyed by the Bank of Japan (BOJ) and the Finance Ministry ahead of new potential policy changes, monetary easing or tapering measures. In Japan, the current account surplus increases the nation’s net foreign assets by the corresponding amount, and a current account deficit does the reverse. Both the Japanese government and private payments are included in the calculation and it is called the current account because goods and services are generally consumed in the current period.

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