— Japan Aug Current Account Surplus -64.3% Y/Y; July -42.4%
— Japan Aug Current Account Surplus at Y407.5Bln
— Japan Aug C/A MNI Poll Median Call -59.6%, Y462 Bln Surplus
— Japan Aug Current Account Surplus Posts 6th Y/Y Drop In Row
TOKYO (MNI) – Japan’s current account surplus shrank for the six
consecutive month in August as higher energy import costs offset a rise
in exports backed by the quick recovery in earthquake-ravaged supply
chains, data released by the Ministry of Finance on Tuesday showed.
The current account surplus stood at Y407.5 billion ($5.32 billion)
in August, down 64.3% from the surplus of Y1.14 trillion a year earlier.
The headline figure came in weaker than the median forecast in a
Market News International survey, which called for a fall of 59.6% to
Y462 billion.
The income surplus, the largest component of the current account,
rose 18.2% on year to Y1.35 trillion in August.
Exports rose 4.0% in August from a year earlier, marking the first
y/y rise in six months after falling 2.3% in July, while imports surged
22.4% following +13.6% in the previous month.
Based on the MOF’s customs-cleared trade data for August released
last month, a rebound in exports was led by ships (+35.2% y/y) and
automobiles (+5.3%)
Meantime, imports of crude oil surged 33.9% and purchases of
liquefied natural gas soared 55.7% in August.
The services account — including transport, travel and financial
services — posted a deficit of Y182.6 billion in August, compared with
a deficit of Y76.8 trillion a year earlier.
The combined goods and services accounts were in deficit by Y877.3
billion in August, compared with a surplus of Y93.7 billion a year
earlier.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5408-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
