Global Economic News

Japan June Current Account Surplus Y558.6 Billion

Japan posted a current account surplus of 558.6 billion yen in June, the Ministry of Finance said on Monday.

That was shy of expectations for a surplus of 785.9 billion yen following the 1.880 trillion yen surplus in May.

The trade balance reflected a surplus of 102.6 billion yen - also below forecasts for 119.7 billion yen following the 47.3 billion yen shortfall in the previous month.

Exports were up 5.6 percent on year to 6.456 trillion yen following the 0.1 percent decline in the previous month.

Imports tumbled an annual 4.6 percent to 6.353 trillion yen after skidding 10.3 percent on year a month earlier.

The capital account had a deficit of 11.3 billion yen, the ministry said, while the financial account saw a shortfall of 265.4 billion yen.

The adjusted current account surplus was 1.300 trillion yen - which missed forecasts for 1.400 trillion yen following the 1.636 trillion yen surplus a month earlier.

Also on Monday, the bank of Japan said that overall bank lending in Japan was up 2.6 percent on year in July, coming in at 489.397 trillion yen.

That was in line with expectations, and up from the 2.5 percent increase in June.

Excluding trusts, bank lending advanced 2.7 percent to 425.614 trillion yen - up from the 2.6 percent gain in the previous month.

Lending from trusts added an annual 2.0 percent to 63.783 trillion yen, while lending from foreign banks tumbled an annual 12.9 percent to 1.829 trillion yen.

by RTTNews Staff Writer

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