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Asian Economic News

Japan Current Account Surplus Y1.809 Trillion In May

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Japan posted a current account surplus of 1.809 trillion yen in May, the Ministry of Finance said on Friday - down 2.4 percent on year.

The headline figure exceeded expectations for a surplus of 1.751 trillion yen, although it was down from 1.878 trillion yen in April.

The trade balance reflected a surplus of 39.9 billion yen - missing forecasts for 56.0 billion yen and down from 697.1 billion yen in the previous month.

Exports slipped 11.9 percent on year to 5.045 trillion yen after sliding 10.4 percent to 5.603 trillion yen a month earlier.

Imports dropped 13.4 percent to 5.005 trillion yen after tumbling 23.1 percent to 4.905 trillion yen.

The capital account showed a deficit of 8.0 billion yen following the 20.4 billion yen surplus in April.

The financial account revealed a surplus of 4.099 trillion yen after the 1.479 trillion yen surplus a month earlier.

The adjusted current account surplus was 1.414 trillion yen - shy of expectations for 1.515 trillion yen and down from 1.625 trillion yen in April.

Also on Friday, the Bank of Japan said that overall bank lending in Japan was up 2.0 percent on year in June, coming in at 497.518 trillion yen.

That was beneath expectations for 2.2 percent, which would have been unchanged from the May reading.

Excluding trusts, bank lending also added an annual 2.0 percent to 432.514 trillion yen. That also missed forecasts for 2.2 percent, which would have been unchanged.

Lending from trusts climbed 2.3 percent to 65.003 trillion yen after rising 2.2 percent a month earlier.

For the second quarter of 2016, overall lending and lending excluding trusts both advanced an annual 2.1 percent.

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