Current account surplus doubles

JIJI

The country’s current account surplus in April jumped 100.8 percent to ¥750 billion year on year on the back of a record income account surplus, Finance Ministry data showed Monday.

The current account balance resulted in a surplus for the third straight month. The April figure compared with the average forecast of ¥294.2 billion surplus among 22 think tanks.

The country’s income account surplus surged 51.8 percent to ¥2.12 trillion, up for the fifth consecutive month, on the back of increases in returns from foreign securities investment and Japanese companies’ receipts of dividends from overseas subsidiaries, ministry officials said.

The yen’s weakening helped push up the value of gains from overseas investment, the officials added.

The income account surplus offset a goods and services trade deficit of ¥1.26 trillion, which was worse than the year-before deficit of ¥921.4 billion. In goods trade, Japan ran a deficit of ¥818.8 billion, against the ¥437.1 billion deficit a year earlier.