Japan Feb current account surplus rises, misses estimates

TOKYO (Tiafx) – Japan’s current account extended its surplus to a 13th straight month in February, Ministry of Finance data showed on Monday, thanks to the Trade deficit narrowing from the previous month.

The surplus rose to 2.64 trillion yen ($17.41 billion) last month, but was below the median forecast for 3.11 trillion yen in a Tiafx poll.

It followed a 457 billion yen surplus in January and was the highest since October last year.

A breakdown of the data showed exports expanded by 5.5% year-on-year in February, driven by demand for cars, car parts and plastics. Imports grew by 1.4%, the first increase in 11 months, reflecting stronger demand for clothing, computer equipment and petroleum products.

Primary income gains, or returns from past direct investment and portfolio investment overseas, saw Japan log a primary income surplus of 3.3069 trillion yen.

($1 = 151.6600 yen)