Japan's Current Account Surplus Soars 59% in First Half, Reaching 12.6 Trillion Yen (Kyodo News)

According to the preliminary report on Japan's balance of payments for the first half of 2024 (January-June) released by the Ministry of Finance on August 8th, the current account surplus, which reflects the country's trade and investment transactions with other nations, increased by 59.2% year-on-year to 12.6817 trillion yen. This surge was largely attributed to a narrowing of the trade deficit (the difference between exports and imports) and an expansion of the primary income surplus, which includes interest and other income earned from overseas investments. Examining the details of the current account for the first half of 2024 reveals a trade deficit of 2.6118 trillion yen. Exports rose by 6.7% to 50.6068 trillion yen, while imports increased by 1.1% to 53.2185 trillion yen. The primary income surplus reached 19.1969 trillion yen. On the same day, the current account surplus for June was reported at 1.5335 trillion yen, marking a 0.9% increase compared to the same month last year.