Japan BoP Current Account Balance for March
more to come
BoP Current Account Balance for March: ¥ 2795.3B ... surplus above expectations, and biggest in 7 years
- expected ¥ 2061.3B, prior ¥ 1440.1B
BoP Current Account Adjusted: ¥ 2066.3B
- expected ¥ 1358.0B, prior ¥ 606.1B
Trade Balance BoP Basis ¥ 671.4B
- expected ¥ 527.5B, prior ¥ -143.1B
Bank Lending excluding trusts April, +2.7%y/y
- expected +2.7%, prior +2.7%
Bank Lending including trusts +2.6% y/y
- expected +2.7%, prior +2.6%
-
Added - Largest current account surplus since March 2008
Says the FT (FastFT, gated):
- The current account-a wide measure of trade including financial flows- produced a surplus of Y2.795tn ($23bn) in March, well ahead of estimates at Y2.1tn. In the prior month the surplus was Y1.44tn
- A nine month string of surpluses reflects income growth from overseas, including foreign investment, which is getting a boost from a weakened yen
- On April 22, Japanese statistics already showed the first trade surplus in nearly three years, as imports contracted 14.5 per cent. This was thanks largely to last year's steep fall in oil prices, which has tempered the value of imports. Exports climbed 8.5 per cent.
