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Japan books current account surplus of 18 billion USD in May

0 Comment(s)Print E-mail Xinhua, July 8, 2024
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TOKYO, July 8 (Xinhua) -- Japan logged a current account surplus of 2.85 trillion yen (about 18 billion U.S. dollars) in May, said a government report on Monday.

The figure grew 41.8 percent from a year ago, preliminary data from the Ministry of Finance showed.

According to the ministry, the country saw a goods trade deficit of 1.11 trillion yen and a services trade surplus of 2.3 billion yen in the recording period.

During the reporting period, the country's imports grew 9.3 percent to 9.24 trillion yen driven by rising crude oil prices, while exports expanded by 12.1 percent to 8.13 trillion yen due to increases in exports of automobiles, semiconductor manufacturing equipment and electronic devices.

Due to a growing number of foreign visitors to Japan, the travel surplus in May grew over 1.5-fold from a year earlier to 441.7 billion yen.

The report also said the primary income, which reflects returns on overseas investments, booked a surplus of 4.21 trillion yen, up 13 percent from a year ago. (1 Japanese yen equals 0.0062 U.S. dollars) Enditem

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