— Japan Aug Current Account Surplus Y454.7 Bln, +4.2% Y/Y
— Japan Aug Current Account MNI Fcast: Y423.8 Bln Surplus, -3.0%
TOKYO (MNI) – Japan’s current account surplus expanded for the
first time in 18 months in August from a year earlier on a relatively
steep drop in imports and a continued increase in the income surplus,
data from the Ministry of Finance showed on Tuesday.
But the latest data did not signal a sustained upturn in the trend
of the nation’s current account surplus, as exports continued to tumble.
The current account surplus stood at Y454.7 billion in August, up
4.2% from a year earlier. It was better than the median economist
forecast in a MNI survey for a surplus of Y423.8 billion, or a 3.0%
fall.
Japan’s current account balance has been in surplus except for a
rare deficit in January this year due to slower shipments to China
during Lunar New Year holidays.
The income surplus, the largest component of the current account,
rose 2.6% on the year to Y1.39 trillion in August, marking a second
straight rise.
Exports declined 5.3% in August from a year earlier, marking a
third straight fall, following a 7.4% decline in the previous month.
Imports tumbled 5.4% in August for the first fall in two months,
following a 1.9% increase in the previous month.
The services account — including transport, travel and financial
services — posted a deficit of Y222.5 billion in August, compared with
a shortfall of Y157.8 billion a year earlier.
The combined goods and services accounts were in deficit by Y867.0
billion in August, compared with a deficit of Y848.1 billion a year
before.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-6860-4821 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
