Japan Logs Current Account Surplus of 3,968.3 B. Yen for May

Tokyo, July 8 (Jiji Press)–Japan logged a current account surplus of 3,968.3 billion yen for May, supported by robust export growth, the Finance Ministry said Wednesday. The current account balance, the broadest indicator of a country’s international trade and investment flows, remained in the black for the 16th consecutive month. The surplus increased from 3,320.5 billion yen logged a year earlier, primarily due to the goods trade balance moving back into the black. In goods trade, Japan posted a surplus of 6.9 billion yen, recovering from a deficit of 497.1 billion yen. Exports climbed 14.7 pct to 9,360.2 billion yen, driven by robust shipments of electronic components, such as semiconductors, and automobiles. Imports rose 8.1 pct to 9,353.3 billion yen, led mainly by semiconductors. The surplus in the primary income account, which includes Japanese companies’ dividend and interest receipts from abroad, grew 2.3 pct to 4,275.6 billion yen, boosted by higher dividends received by Japanese companies from securities investments. In services trade, Japan posted a deficit of 10.3 billion yen, compared with a year-before surplus of 130.9 billion yen. The deterioration largely reflected a smaller travel-related surplus after a plunge in the number of Chinese visitors to Japan. END [Copyright The Jiji Press, Ltd.]