— See Separate Table For Details Of Individual Forecasts
TOKYO (MNI) – Japan is expected to have posted a record current
account deficit of Y315.2 billion in January as the trade balance
worsened sharply, according to the median forecast of economists
surveyed by Market News International.
The Ministry of Finance will release the data at 0850 JST on
Thursday, Mar. 8 (2350 GMT on Wednesday).
January’s deficit is expected to have surpassed the previous record
deficit of Y132.7 billion marked in January 2009, when Japan suffered a
sudden plunge in global demand triggered by the collapse of Lehman
Brothers. The current account monthly statistics date to January 1996.
In January this year, the trade account balance is forecast to have
posted a record high deficit of Y1.36 trillion, hit by the global
slowdown and the strong yen.
The trade balance in the current account is based on FOB (free on
board) for both exports and imports.
Japan’s trade balance on a custom-cleared basis — FOB for exports
and CIF (cost, insurance and freight) for imports — hit a record
deficit of Y1.475 trillion in January, surpassing the previous record of
Y967.9 billion marked in January 2009.
Meanwhile, the surplus in the income account, the largest component
of the current account balance, is estimated at Y1.26 trillion in
January, up 15.3% on year, posting a 10th consecutive y/y rise.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
