— Japan July Current Account Surplus Y625.4 Bln, -40.6% Y/Y
— Japan July Current Account MNI Fcast: Y485.6 Bln Surplus, -53.9%
TOKYO (MNI) – Japan’s current account surplus fell for 16 times in
the past 17 months in July on slowing exports and a wider service
deficit, data from the Ministry of Finance showed on Monday.
The current account surplus stood at Y625.4 billion in July, down
40.6% from a year earlier. It was better than the median economist
forecast in a MNI survey for a surplus of Y485.6 billion, or a 53.9%
fall.
Japan’s current account balance has been in surplus except for a
rare deficit in January this year due to slower shipments to China
during Lunar New Year holidays.
The income surplus, the largest component of the current account,
rose 13.6% on the year to Y1.42 trillion in July, marking the first
rise in three months.
Exports declined 7.4% in July from a year earlier, marking a second
straight fall, following a 1.5% decline in the previous month.
Imports rose 1.9% in July for the first rise in two months,
following a 1.2% dip in the previous month.
The services account — including transport, travel and financial
services — posted a deficit of Y346.2 billion in July, compared with a
shortfall of Y266.4 billion a year earlier.
The combined goods and services accounts were in deficit by Y719.7
billion in July, compared with shortfalls of Y124.7 billion a year
before.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-6860-4821 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
