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Japan logs ?1.84 tril current account surplus in August

Japan logged a current account surplus of 1.84 trillion yen ($16.3 billion) in August, marking the 50th straight month of black ink, government data showed Tuesday.
But the margin of surplus in the current account, one of the widest gauges of international trade, shrank 23.4 percent from a year earlier as goods trade registered a deficit for the second consecutive month on oil import surges, according to a preliminary report by the Finance Ministry.
The country had a goods trade deficit of 219.3 billion yen as energy imports such as crude oil and liquid natural gas soared, outpacing a rise in exports led by automobiles and manufacturing equipment for semiconductors.
Services trade came to a deficit of 6.1 billion yen, possibly hurt by torrential rain that caused flash floods in western Japan in July.
Transport services by air and sea posted a deficit of 95.4 billion yen, while a steady rise in inbound tourists and the addition of their spending on cruise tours to the data from August helped lift the travel surplus to 123 billion yen.
Meanwhile, primary income, which reflects returns on overseas investments, registered a surplus of 2.29 trillion yen, up 1.8 percent from a year earlier to reach a record high for August.


© KYODO
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