Japan’s current account surplus falls 5.8% on year in August
TOKYO, Oct. 8 -- Japan's current account surplus fell 5.8 percent in August from the sam time a year earlier, the Ministry of Finance (NMOF) said in a preliminary report on Friday.The nation's current account surplus in the recording period stood at 1.11 trillion yen (13.48 billion U.S. dollars), the ministry said.
Additionally, the ministry noted that the balance of trade in goods and services logged a surplus of 101.0 billion yen (1.22 billion U.S. dollars) in August.
The balance of trade is the difference between Japan's exports of goods and services and its imports of goods and services, if all financial transfers, investments and other components are ignored.
Japan is said to have a trade deficit if it is importing more than it exports.
Positive net sales by Japan abroad generally contributes to a current account surplus and because exports generate positive net sales, and because the trade balance is typically the largest component of the current account, a current account surplus is usually associated with positive net exports.
Japan's current account balance is one of the major gauges of the nature of Japan's foreign trade.
A current account surplus increases Japan's net foreign assets by the corresponding amount, and a current account deficit does the reverse.
Both government and private payments are included in the calculation.
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