🎉 Unleash the power of strategic Trading. Trading Platform.

Japan Feb current account surplus rises, misses estimates

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.

© Reuters. FILE PHOTO: Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

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)

Leave a Reply

Your email address will not be published. Required fields are marked *

We make Trading Forex CFD ridiculously easy. On day one, they’re ready to go. And retaining them is easier.