— Japan Feb Current Account Surplus Y1.178 Trln, -30.7% Y/Y
— Japan Feb C/A Surplus MNI Median Forecast Y1.134 Trln, -33.3% Y/Y
TOKYO (MNI) – Japan marked the first current account surplus in two
months in February as the decline in exports moderated thanks to solid
demand in the U.S. and Southeast Asia, data released by the Ministry of
Finance showed on Monday.
The current account surplus stood at Y1.178 trillion in February,
down 30.7% from a year earlier, while coming in stronger than the median
forecast in a MNI survey for a surplus of Y1.134 trillion, or a 33.3%
fall.
Japan logged a record high current account deficit of Y437.3
billion in January amid slowing global demand, the high yen and slower
shipments to China during Lunar New Year holidays.
The income surplus, the largest component of the current account,
rose 3.9% on the year to Y1.24 trillion in February, marking the 11th
straight y/y rise.
Exports fell 2.0% in February from a year earlier, marking the
fifth straight fall, but the pace of decline decelerated from a 8.5% drop
in the previous month, while imports increased 11.1% for a 26th straight
rise following a 11.2% gain.
The services account — including transport, travel and financial
services — posted a deficit of Y130.4 billion in February, compared
with a deficit of Y31.9 billion a year earlier. The service deficit
widened for the nine straight month.
The combined goods and services accounts were in deficit by Y28.3
billion in February, reversing a surplus of Y688.4 billion a year
earlier. The deficit shrank from Y1.47 trillion marked in January.
tokyo@marketnews.com
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[TOPICS: M$J$$$,M$A$$$,MAJDS$]
