Japan's current account surplus narrowed to JPY 1.71 trillion in April 2019 from JPY 1.89 billion in the same month the previous year and compared to market consensus of JPY 1.52 trillion. The goods account shifted to a JPY 0.10 trillion deficit from a surplus of JPY 0.56 trillion a year ago, while the primary income surplus widened to JPY 2.13 trillion from JPY 1.94 trillion. At the same time, the services gap narrowed to JPY 0.31 trillion from JPY 0.44 trillion a year earlier and the secondary income deficit decreased to JPY 0.01 trillion from JPY 0.18 trillion. Current Account in Japan averaged 1139.73 JPY Billion from 1985 until 2019, reaching an all time high of 3360.40 JPY Billion in March of 2007 and a record low of -1456.11 JPY Billion in January of 2014.
Current Account in Japan is expected to be 1170.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Japan to stand at 3080.00 in 12 months time. In the long-term, the Japan Current Account is projected to trend around 440.00 JPY Billion in 2020, according to our econometric models.