TOKYO, Feb. 10 (Xinhua) -- Japan's current account surplus reached a record 29.26 trillion yen (about 192.5 billion U.S. dollars) in 2024, driven by a shrinking trade deficit, strong investment returns, and rising inbound tourism consumption, official data showed Monday.

The surplus, up 29.5 percent from the previous year, also marked the highest volume since comparable records began, according to preliminary data from the Ministry of Finance.

The primary income surplus, which includes returns from foreign investments, expanded by 11.3 percent to a record 40.21 trillion yen, marking the fourth consecutive year of growth.

The trade deficit narrowed by 40 percent to 3.89 trillion yen as exports grew by 4.5 percent to 104.87 trillion yen, boosted by a weaker yen and strong demand for semiconductors and automobiles.

Imports rose 1.8 percent to 108.77 trillion yen, with increased purchases of computers and non-ferrous metals, while energy imports declined due to stabilizing resource prices.

The services balance deficit shrank by 10.3 percent to 2.62 trillion yen. Japan saw a record-high 36.87 million inbound visitors in 2024, boosting the travel surplus by 62.4 percent to 5.90 trillion yen. (1 yen equals 0.0066 USD) Enditem

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