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Japan records biggest current account surplus since 2007

Japan records biggest current account surplus since 2007
09 August 2016 Current Affairs: Japan recorded the largest current account surplus in the first half of this year since 2007 with reduced imports amid lower crude oil prices and rising revenue from tourism.

The current account balance which quantifies the international trade of goods, services and investments in and out of the country, marked a surplus of 10.63 trillion yen ($104 billion) in the period of January to June, up 31.3% from a year earlier.

Japan has been highly dependent on energy imports sinceFukushima nuclear disaster in March 2011, which led to shutdown of most commercial reactors in the country with heightened safety concerns from the public, Xinhua news agency reported.

Goods trade, a key component of the current account balance, registered a surplus of 2.35 trillion yen in the first six months of this year, compared with a deficit of 375.4 billion yen in the same period of the previous year.

The service sector, including passenger transportation and cargo shipping, logged a deficit of 209.9 billion yen in the six-month period, substantially reduced from a deficit of 933.3 billion yen a year before.

The country's travel balance posted a surplus of 775.8 billion yen, the largest since comparable data became available in 1996, thanks to constantly rising number of foreign tourists.

For the single month of June, Japan registered a current account surplus of 974.4 billion yen, a surplus for the 24th month in a row.

Japan's current account surplus is one of the the broadest measure of its trade with the rest of the world and the data is keenly eyed by the Bank of Japan and the Finance Ministry ahead of new potential policy changes or monetary easing or tapering measures.


March 2017 Current affairs
25 MAR
NEWS
24 MAR
NEWS
23 MAR
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22 MAR
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21 MAR
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February 2017 Current affairs
28 FEB
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27 FEB
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25 FEB
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24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
NEWS
27 DEC
NEWS
26 DEC
NEWS

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
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26 NOV
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25 NOV
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24 NOV
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