TOKYO, 11th May, 2024 (WAM) -- Japan's current account surplus in fiscal 2023 soared 2.8-fold from the previous year to hit a record high of 25,339 billion yen, mainly thanks to a smaller trade deficit, the Finance Ministry said in a preliminary report.
In the year that ended in March 2024, the country's goods trade deficit shrank to 3,572.5 billion yen from the previous year's 17,786.9 billion yen. Exports rose 2.1 pct to 101,866.6 billion yen, while imports fell 10.3 pct to 105,439.1 billion yen, Jiji Press reported, citing the Finance Ministry’s report.
The surplus in the primary income balance, which reflects dividend and interest flows, inched up 0.6 pct to 35,531.2 billion yen.
In March alone, Japan's current account surplus climbed 44 pct from a year before to 3,398.8 billion yen.
Japan's current account surplus hits record 25 trillion Yen in fiscal 2023
