TOKYO: Japan’s current account surplus in January reached ¥607.4 billion ($5.7 billion), the largest total for the month since 2011, government data showed Thursday.
The surplus, backed by strong Asian exports, increased from a year earlier for the first time in three months, marking an over sixfold rise from the same month last year. It was also the 43rd straight month of black ink, the Finance Ministry said in a preliminary report.
The data showed a goods trade deficit of ¥666.6 billion, falling into the red for the first time in eight months. But the deficit was smaller compared to January 2017, helped by strong car demand in China, the ministry said.
Higher crude oil prices pushed up imports, which marked a rise of 8.1 percent from a year ago to ¥6.89 trillion, while exports grew 12.7 percent to ¥6.22 trillion.
The surplus in the primary income account, which reflects how much Japan earns from foreign investment, came to ¥1.55 trillion, the largest for the month of January since 1985, the ministry said.
Japan has been running a surplus in the current account, one of the widest gauges of international trade, helped by robust foreign investment income.
The travel surplus remained strong at ¥178.7 billion, hitting a record for the month of January since comparable data became available in 1996, as the number of foreign visitors to Japan continued to grow.
The service balance, which also includes passenger transportation and royalties, marked a deficit of ¥168.2 billion, smaller than the ¥216.2 billion deficit in January 2017 due to a rise in charges for the use of intellectual property.
