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The current account surplus of Japan impressively widened during the month of August, largely reflecting a pickup in merchandise trade. Also, an improvement in the trade balance on lower import prices inflated the overall figure.
Japan’s surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at JPY2.001 trillion in August before seasonal adjustment, the data showed, up 23 percent from a year earlier. The median estimate of economists surveyed by Bloomberg was for a surplus of 1.54 trillion yen, and marked the 26th consecutive month in the black.
Further, the goods and services balance returned to the black in August, logging a surplus of JPY190.7 billion. The trade balance also returned to a surplus of JPY243.2 billion as the value of imports fell 18.3 percent on year, helped by a strengthening of the yen.
Also, primary income surplus fell 2.8 percent on year to JPY1.985 trillion as income from investment in overseas securities fell.
"The current-account surplus will probably be close to 4 percent of GDP this year, which is quite big. Japan has a large surplus, and also has a very strong net foreign asset position," Bloomberg reported, citing Marcel Thieliant, Senior Japan Economist, Capital Economics in Singapore.
