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REUTERS/Florence Lo/Illustration/File Photo Banknotes of Japanese yen are seen in this illustration picture taken September 23, 2022.
Jiji Press
17:16 JST, January 12, 2023
TOKYO —Japan has logged a record current account surplus for November, buoyed by growth in Japanese companies’ dividend and interest receipts from aboard, government data showed Thursday.
The country’s current account surplus rose 16.4% from a year before to ¥1,803.6 billion last November after posting a deficit of ¥64.1 billion in October, the Finance Ministry said.
The surplus was far bigger than the median forecast of ¥452.8 billion among 18 economic research institutes surveyed by Jiji Press.
The record-breaking result also reflected shipping companies’ strong performance in their overseas operations.
On the primary income account, Japan logged a surplus of ¥3,724.5 billion, growing 53.9% thanks to a weaker yen.
Exports were up 20.7% at ¥9,008.1 billion, and imports rose 33.8% to ¥10,546 billion.
As a result, Japan’s goods trade deficit jumped to ¥1,537.8 billion from ¥424.3 billion a year before, marking a record high for November.
In services trade, the country’s deficit slid to ¥166.4 billion from ¥201.8 billion as visitors from abroad increased following a drastic easing of COVID-19 border controls.
Travel services posted a surplus of ¥95 billion, up sixfold, as travelers from overseas spent more in Japan than Japanese people did abroad.
