Japan posted a current account surplus for the sixth straight month in July, as cheaper energy imports are reducing the trade deficit.
Finance Ministry officials say the surplus stood at almost 2.8 trillion yen, or about 19 billion dollars, up about 13 billion dollars from a year earlier.
The cost of energy resources from overseas such as crude oil and liquefied natural gas fell, leading to a decrease in the overall value of Japan's imports.
The trade balance turned into a surplus of about 464 million dollars, an increase of 8.5 billion dollars from a year earlier.
Meanwhile, the primary income surplus came to about 24 billion dollars.
That figure includes dividends and interest income that Japanese firms receive from their foreign subsidiaries. Income from bonds increased as interest rates abroad went up.
Finance Ministry officials say the surplus stood at almost 2.8 trillion yen, or about 19 billion dollars, up about 13 billion dollars from a year earlier.
The cost of energy resources from overseas such as crude oil and liquefied natural gas fell, leading to a decrease in the overall value of Japan's imports.
The trade balance turned into a surplus of about 464 million dollars, an increase of 8.5 billion dollars from a year earlier.
Meanwhile, the primary income surplus came to about 24 billion dollars.
That figure includes dividends and interest income that Japanese firms receive from their foreign subsidiaries. Income from bonds increased as interest rates abroad went up.
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Summary: Japan posts current account surplus for 7th straight month
Summary
Japan recorded a sixth consecutive current account surplus in July, with the Finance Ministry reporting an increase of around 13 billion dollars from last year to approximately 2.8 trillion yen ($19 billion USD). The improvement is mainly due to cheaper energy imports, resulting in a trade balance
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ID: 92d53582-a168-48a4-b8d7-969d42e506bf
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20230908_18/
Date: Sept. 8, 2023
Created: 2023/09/08 13:28
Updated: 2025/12/08 23:57
Last Read: 2023/09/08 16:49