JEQ - Japan current account surplus surges in June exceeds market forecasts
2023-08-08 01:45:23 ET
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Japan's current account surplus jumped to ¥1,508.8 billion in June 2023 from ¥497.9 billion in the same month a year earlier, exceeding market forecasts of a gain of ¥1,395 billion, a fifth straight month of surplus in the current account, as the goods account shifted to a gain of ¥3,287 billion from a shortfall of ¥11,048 billion in the prior year, with exports edging up 0.5% year-on-year while imports tumbling 14.3%.
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Meantime, the surplus of primary income narrowed to ¥16,825 billion from ¥18,495 billion while the gap in the services account widened to ¥3,582 billion from ¥2,563 billion.
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Additionally, the secondary income posted a gap of ¥144.1 billion after gaining a tiny surplus a year ago.
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Now read: Japan services PMI revised slightly lower at 53.8 in July
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Japan current account surplus surges in June exceeds market forecasts