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Japan Feb Current Account Surplus Y1.177T

Japan Feb Current Account Surplus Y1.177T
4/8/2012 9:15 PM ET

Japan posted a current account surplus of 1.177 trillion yen in February, the Ministry of Finance said on Monday - down 30.7 percent on year.

The headline figure beat forecasts for a surplus of 1.120 trillion yen after posting a shortfall of 437.3 billion yen in January. Analysts had expected a contraction of 34.1 percent on year following the 180 percent plunge a month earlier.

The trade balance came in below forecasts at 102.1 billion yen, shy of expectations for 104.3 billion yen after showing a deficit of 1.381 trillion yen in the previous month.

Exports shed an annual 2.0 percent to 5.247 trillion yen. That follows the 8.5 percent contraction in January, which came in at 4.353 trillion yen.

Imports jumped 11.1 percent on year to 5.145 trillion yen, after posting an annual increase of 11.2 percent in the previous month to 5.735 trillion yen.

Goods and services saw a deficit of 28.3 billion yen in February after showing a shortfall of 1.474 trillion yen in January.

The financial account saw a deficit of 701.3 billion yen, while the capital account posted a surplus of 20.7 billion yen.

The adjusted current account showed a surplus of 854.1 billion yen, blowing past expectations for a surplus of 650.0 billion yen after posting a surplus of 115.6 billion yen a month earlier.

Also, revised data for the fourth quarter of 2011 showed a current account surplus of 925.7 billion yen, down 75.8 percent on year.

The trade deficit was 944.6 billion yen, with exports falling 4.3 percent on year to 15.70 trillion yen and imports rising 14.9 percent to 16.644 trillion yen.

by RTT Staff Writer

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