The current account surplus amounted to 2.77 trillion yen
Tokyo – Reuters
Posted on: September 08, 2023: 09:39 AM GST Last updated: September 08, 2023: 10:34 AM GST
Japan’s Finance Ministry said on Friday that the country posted a record current account surplus in July, alleviating concerns about the country’s balance of payments.
The current account surplus amounted to 2.77 trillion yen ($18.8 billion) in July, beating experts’ forecasts in a Reuters poll for a surplus of 2.3 trillion yen.
According to data from the Ministry of Finance, this is the sixth consecutive month that a surplus has been registered.
Over the past year, current account data reflected the difficulties caused by rising energy costs and a weak yen for the world’s third largest economy, which relies heavily on imports of fuel and raw materials.
Japan’s status as an export powerhouse has declined in recent years, partly because companies have shifted their production abroad.
2023-09-08 05:39:00
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