TOKYO (MNI) – Data from the Ministry of Finance released Monday.
— Japan Oct Current Account Surplus Y376.9 Bln; -29.4% Y/Y
— Japan Oct C/A MNI Fcast: Y230.9 Bln Surplus, -56.8% Y/Y
FACTORS: Japan’s current account balance has been in surplus except for a
rare deficit in January 2012 due to slower shipments to China during Lunar New
Year holidays. The income surplus, the largest component of the current account,
rose 10.9% on the year.
TAKEAWAY: The combined goods and services account will show a deficit until
exports remain depressed amid the global slowdown but Japan’s current account
will continue posting a surplus thanks to income from overseas, which will
alleviate any concern about the country’s financial position.
–MNI Tokyo Bureau; tel: +81 90-4752-7020; email: yseki@mni-news.com
–MNI Tokyo Bureau; tel: +81 90-4670-5309; email: msato@mni-news.com
[TOPICS: MAJDS$,M$A$$$,M$J$$$]
