Business & Economy

Japan posts $17.9 billion current surplus in May

Tokyo, Jul 8 (EFE).- Japan posted a current account surplus of 1.98 trillion yen ($17.9 billion) in May, marking its 83rd consecutive month of positive balance, the government reported Thursday.

The figure is 85.3 percent higher than that registered in the same month of 2020 and 49.8 percent higher than in April, according to data published by the Ministry of Finance.

The Japanese trade balance posted a surplus of 2 billion yen, in contrast to a deficit of a year before, but was 99 percent less than the positive balance registered in the previous month.

Exports increased 46.5 percent year-on-year to 6.18 trillion yen, while imports grew by 30.6 percent, also up to 6.18 trillion yen.

The services account balance recorded a deficit of 255.5 billion yen, a decrease of 5.8 percent year-on-year and 73.2 percent quarter-on-quarter.

The income account in May registered a positive balance amounting to 2.45 trillion yen, 18.8 percent more year-on-year and 12.7 percent more than in the previous month.

Transfers registered a deficit of 218.7 billion yen, which represents an increase of 3.1 percent compared to the previous year and 16.3 percent more than in the previous month.

The balance of payments, which reflects payments and income from foreign exchanges of goods, services, income and transfers, is considered one of the broadest trade indicators in the country. EFE


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