Japan's current account surplus came in at JPY 1.21 trillion in June 2019, unchanged from the same month of the previous year and above market consensus of JPY 1.14 trillion. The goods and services surplus widened to JPY 0.81 trillion from JPY 0.66 trillion a year ago, while the primary income surplus declined to JPY 0.43 trillion from 0.61 trillion. Meanwhile, the secondary income deficit narrowed to JPY 0.03 trillion from JPY 0.06 trillion a year earlier. In the first half of the year, the current account deficit rose to JPY 10.47 trillion from JPY 1.45 trillion in the same period of 2018. Current Account in Japan averaged 1140.59 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 1750.00 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 1250.00 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.