Japan posts record current account surplus for half of fiscal year

Nov 09, 2023 | News On Japan

TOKYO - Japan has posted a record current account surplus for the first six months of the fiscal year. The figure came in at 12.7 trillion yen, or about 84 billion dollars, in the black amid cheaper energy imports and rate hikes abroad.

The amount is more than triple the number from a year ago and marks the highest the figure has been since 1985. That goes for either the first or second half of a fiscal year starting in April.

The current account is a measure of the country's trade and investment with the rest of the world.

Japan posted a trade deficit of 9.3 billion dollars, which shrank by 51.4 billion dollars compared to a year ago as prices declined for crude oil and other energy imports.

The primary income surplus that includes interest and dividends from overseas investments also hit a record high in yen terms, exceeding 120 billion dollars.

Rate hikes in other countries including the United States helped boost foreign bond interest payments.

Source: テレ東BIZ

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