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Japan Has Y1,176.8 Billion Current Account Surplus

Japan posted a current account surplus of 1,176.8 billion yen in May, the Ministry of Finance said on Wednesday.

That exceeded expectations for a surplus of 1,088.2 billion yen and was up from 262.7 billion yen in April.

The trade balance showed a deficit of 556.8 billion yen, down 18.1 percent on year. Exports tumbled 28.9 percent on year to 4.197 trillion yen, while imports sank an annual 27.7 percent to 4.754 trillion yen.

The capital account showed a deficit of 3.7 billion yen, while the financial account saw a deficit of 187.3 billion yen.

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