Japan: Japan has posted a record current account surplus for the first half of the fiscal year starting in April. Businesses in the country saw bigger returns as investments overseas rose.
According to Qatar News Agency, the current account surplus for the April-to-September period was more than 15.8 trillion yen, or over 100 billion dollars, Japan’s Finance Ministry said. This figure represents an increase of 1.7 trillion yen, or over 11 billion dollars from last year, marking the highest level for half a fiscal year since comparable data became available in 1985.
The current account represents a country’s earnings from trade and investment with the rest of the world. The primary income account also logged a record high for half a fiscal year, reaching more than 22 trillion yen, or about 144 billion dollars. Japanese companies received greater dividends and interest payments amid the weak yen and higher interest rates in the US and elsewhere.
However, the trade balance recorded a deficit of 2.4 trillion
yen, or over 15 billion dollars, due to increased imports of computers and pharmaceutical products. September alone shows a current account surplus of 1.7 trillion yen, or more than 11 billion dollars, marking the 20th consecutive month of surplus. However, the amount plunged by 8 billion dollars from last year.