business

Japan's Nov current account surplus rises 75% on falling energy prices

13 Comments

Japan's current account surplus increased 75.0 percent in November from a year earlier as imports fell more steeply than exports amid declining energy-related prices in the reporting month, government data showed Tuesday.

The surplus in the current account -- one of the widest gauges of international trade -- stood at 1.44 trillion yen ($13 billion), marking the 65th consecutive month of black ink, the Finance Ministry said in a preliminary report.

Among key components, the goods trade deficit fell 99.5 percent from a year earlier to 2.5 billion yen.

Exports dropped 10.2 percent to 6.24 trillion yen, affected by declining shipments of vehicles and construction machinery to the United States.

Meanwhile, imports plunged 16.6 percent to 6.25 trillion yen, pulled down by cheaper crude oil and petroleum product prices, contributing to the improvement in the country's current account surplus.

The surplus in primary income, which reflects returns on overseas investments, remained a main driver of Japan's long-running current account surplus, up 0.1 percent from a year earlier to 1.46 trillion yen.

Japan's services trade surplus, which included cargo shipping and passenger transport, more than tripled to 163.0 billion yen, the highest for November, as Japanese companies' overseas research, development and consulting costs sharply decreased.

In services, a surplus in the travel balance registered a November record at 211.5 billion yen, helped by foreign travelers visiting Japan despite a plunge in the number of South Koreans due to chilled bilateral ties.

© KYODO

©2020 GPlusMedia Inc.

13 Comments
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Falling energy prices?

I don’t notice any difference in pump prices here in Japan.

I do notice that the weather has become more wet and mild than I am used to (in the winter) though...

7 ( +7 / -0 )

Nice bit of sugar-coated reporting. Comparing the surplus with a year ago conveniently hides all the slides in the past year/s.

5 ( +7 / -2 )

both exports and imports are plunged, but we have a positive headline, kyodo pushing the boundaries of positivism and polyanna attitude.

4 ( +6 / -2 )

If volatile food prices are not added to these indexes, might as leave oil out as well...and coal?

4 ( +4 / -0 )

And the average Japanese worker continues to need 100% of monthly income to sustain a moderate lifestyle. Measurements... whatever, rigged game.

3 ( +4 / -1 )

Bullish on Japan.

1 ( +2 / -1 )

Many countries would be envious....

That's for sure. The numbers bolster Japan's status as the world's biggest creditor nation and the yen's status as global investors' favorite safe-haven currency.

0 ( +4 / -4 )

 "Comparing the surplus with a year ago conveniently hides all the slides in the past year/s."

Huh? I guess you didnt read the second sentence:

*"... marking the 65th consecutive month of black ink..."*

0 ( +1 / -1 )

Japan's Nov current account surplus rises 75%

In other words, Japan got richer.

0 ( +0 / -0 )

Excellent news. The increasing huge Current Account Surplus essentially indicates Japan is more than paying her way, and the economy looks in good health.

Watch that yen appreciate due to "safe haven status" becoming even safer. And watch the surplus soar with the massive tourist influx in 2020!

-1 ( +3 / -4 )

IF there is a surplus, then why the 10% tax, recall back to 8% no reason to leave at 10% but that yen back into our pockets

-1 ( +1 / -2 )

JeffLeeToday 06:37 am JST

 "Comparing the surplus with a year ago conveniently hides all the slides in the past year/s."

Huh? I guess you didnt read the second sentence:

JeffLee - As above , Many on here have a problem with comprehension and a lack of understanding of economics and have for years.

-1 ( +1 / -2 )

Many countries would be envious of this "marking the 65th consecutive month of black ink, the Finance Ministry said in a preliminary report".

Many stuck in the Red !

-3 ( +3 / -6 )

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