Japan's current account surplus widened to JPY 1.44 trillion in November 2019 from JPY 0.82 trillion in the same month last year, slightly above market expectations of JPY 1.42 trillion. The goods account was practically-balanced, compared to a JPY 0.54 trillion deficit a year ago, while the services surplus widened to JPY 0.16 trillion from JPY 0.04 trillion. Meanwhile, the secondary income deficit rose to JPY 0.18 trillion from JPY 0.14 trillion, while the primary income surplus stood practically unchanged at JPY 1.46 trillion. Current Account in Japan averaged 1148.62 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. source: Ministry of Finance, Japan

Current Account in Japan is expected to be 3080.00 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 510.00 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.

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Japan Current Account

Actual Previous Highest Lowest Dates Unit Frequency
1436.76 1816.85 3360.40 -1456.11 1985 - 2019 JPY Billion Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-10-07 11:50 PM Aug ¥2157.7B ¥1999.9B ¥2069.5B ¥1790B
2019-11-10 11:50 PM Sep ¥1612.9B ¥2157.7B ¥1684.6B ¥1750B
2019-12-08 11:50 PM Oct ¥1816.8B ¥1612.9B ¥1797.8B ¥1250B
2020-01-13 11:50 PM Nov ¥1436.8B ¥1816.8B ¥1423.3B ¥1210B
2020-02-09 11:50 PM Dec ¥1436.8B ¥380B


News Stream
2019-12-09
Japan Current Account Surplus Widens in October
Japan's current account surplus widened to JPY 1.82 trillion in October 2019 from JPY 1.32 trillion in the same month last year, slightly above market expectations of JPY 1.80 trillion. The goods account posted a JPY 0.25 trillion surplus, compared to a JPY 0.32 trillion deficit a year ago; while the services gap fell to JPY 0.10 trillion from JPY 0.24 trillion and the secondary income deficit dropped to JPY 0.12 trillion from JPY 0.18 trillion. Meanwhile, the primary income surplus narrowed to JPY 1.78 trillion from JPY 2.06 trillion.

2019-11-11
Japan Current Account Surplus Lower than Forecasts
Japan's current account surplus fell to JPY 1612.9 billion in September 2019 from JPY 1843.7 billion a year earlier and below market expectations of JPY 1684.6 billion. The goods and services surplus narrowed sharply to JPY 41.2 billion from JPY 287.7 billion in September 2018 and the secondary income gap widened to JPY 233.7 billion from JPY 153.9 billion. On the other hand, the primary income surplus rose to JPY 1805.4 billion from JPY 1710.0 billion.

2019-10-08
Japan Current Account Widens in August
Japan's current account surplus came in at JPY 2.16 trillion in August 2019, widening from last year's JPY 1.82 trillion and above market expectations of JPY 2.07 trillion. The goods account switched to a JPY 0.05 trillion surplus from a JPY 0.26 trillion deficit, as exports slumped 8.6 percent and imports plunged 12.7 percent. Meanwhile, the services account surplus remained practically unchanged at JPY 0.02 trillion. The primary income account surplus narrowed to JPY 2.27 trillion from 2.28 trillion, whereas the secondary income account deficit narrowed to JPY 0.18 trillion from JPY 0.23 trillion.

2019-09-09
Japan Current Account Surplus Little-Changed in July
Japan's current account surplus came in at JPY 2.00 trillion in July 2019, little-changed from last year's JPY 2.03 trillion and below market expectations of JPY 2.08 trillion. The primary income surplus stood at JPY 2.39 trillion, compared to JPY 2.36 trillion in the same month a year ago, while the secondary income deficit decreased to JPY 0.09 trillion from JPY 0.17 trillion. Meanwhile, the goods and services gap widened to JPY 0.30 trillion from JPY 0.17 trillion a year earlier.

2019-08-08
Japan Current Account Surplus Little-Changed
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.

2019-07-08
Japan Current Account Surplus Narrows in May
Japan's current account surplus narrowed to JPY 1.59 trillion in May 2019 from JPY 1.90 billion in the same month the previous year and below market consensus of JPY 1.39 trillion. The primary income surplus decreased to JPY 2.26 trillion from JPY 2.40 trillion a year earlier, while the goods gap widened to JPY 0.65 trillion from JPY 0.32 trilion. Meanwhile, the services account surplus increased to JPY 0.14 trillion from JPY 0.01 trillion a year earlier, while the secondary income deficit narrowed a bit to JPY 0.15 trillion from JPY 0.20 trillion.


Japan Current Account
Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Japan Trade Last Previous Highest Lowest Unit
Balance of Trade -82.08 15.66 1608.67 -2795.12 JPY Billion [+]
Current Account 1436.76 1816.85 3360.40 -1456.11 JPY Billion [+]
Current Account to GDP 3.50 4.00 4.70 -1.00 percent [+]
Imports 6464.25 6561.41 8047.03 162.06 JPY Billion [+]
Exports 6382.17 6577.06 7681.69 105.08 JPY Billion [+]
External Debt 467002.00 456947.00 467002.00 141743.00 JPY Billion [+]
Terms of Trade 99.50 99.10 276.10 83.10 points [+]
Foreign Direct Investment 12898.85 10460.19 70854.65 -3825.00 JPY Hundred Million [+]
Capital Flows 5507.00 8345.00 51996.00 -26928.00 JPY HML [+]
Tourism Revenues 30450000.00 23659000.00 30450000.00 821000.00 JPY Thousand [+]
Tourist Arrivals 2441300.00 2496600.00 2991200.00 225806.00 [+]
Gold Reserves 765.22 765.22 765.22 753.54 Tonnes [+]
Terrorism Index 2.29 2.93 3.60 0.00 [+]
Crude Oil Production 4.00 4.00 13.00 3.00 BBL/D/1K [+]