Japan's current account surplus expands to record Y2.38 trillion in August

Oct 10, 2017 | News On Japan

Oct 10, 2017 (Japan Times) - The current account surplus expanded to Â¥2.38 trillion ($21 billion) in August - the highest on record for the month - lifted by foreign investments and a bigger trade surplus, government data showed Tuesday.

The surplus in the primary income account, which reflects how much Japan earns from foreign investments, rose 13.0 percent from the year before to Â¥2.24 trillion, the Finance Ministry said in a preliminary report.

The current account logged a surplus for the 38th straight month in August. The yen's depreciation against the dollar was one key factor boosting income from foreign investment, a ministry official said.

The dollar averaged Â¥109.91 in August, higher than Â¥101.27 the previous year, while the euro traded at Â¥129.84, compared with Â¥113.54 the year before.

Among other key components in the current account, goods trade registered a surplus of Â¥318.7 billion - up 46.2 percent.

Robust shipments of cars, auto parts and electronic components helped Japan's trade surplus, which narrowed slightly from rising energy imports.

Exports jumped 16.3 percent year on year to Â¥6.17 trillion and imports gained 15.1 percent in the same period to Â¥5.85 trillion.

Source: ANNnewsCH

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