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April 08, 2020JAPAN CURRENT ACCOUNT, TRADE BALANCE, FEBRUARY 2020 Current Account
In February 2020, Japan reported
- Goods & services trade changed from a deficit (144 billion yen) to a surplus (511 billion yen)
- Primary income surplus widened by 102 billion yen to 2,009 billion yen
- Secondary income deficit widened by 5 billion yen to 142 billion yen
- As a result, Current account surplus widened by 751 billion yen to 2,378 billion yen over January 2020.
Trade Balance
In February 2020, Japan 's
- Export goods trade increased 352 billion yen to 6,391 billion yen over January 2020 and decreased 158.3 billion yen over February 2019.
- Import goods trade decreased 529 billion yen to 5,574 billion yen over January 2020 and decreased 890.3 billion yen over February 2019.
- As a result, Net Goods trade surplus changed from a deficit (63 billion yen) to a surplus (817 billion yen)
- Net Services trade deficit widened by 226 billion yen to 307 billion yen
- As a result, Goods & services trade surplus changed from a deficit (144 billion yen) to a surplus (511 billion yen) over January 2020.
CURRENT ACCOUNT AS A SHARE OF GDP
The ratio of the current account balance to the Gross Domestic Product (or % of GDP) provides an indication of the country's trade and income flows relative to the size of the economy. The ratio is calculated by dividing the net values of exports less imports, primary Income (interest and dividends) and secondary income (transfers) over a period by the gross domestic product for the same period. Although called a ratio, it is usually expressed as a percentage. A current account surplus indicates upward pressure on the foreign exchange rate unless it is offset by net outflows (lending, acquisition of assets) outside the country.
- In the period 1999 Q1 to 2007 Q4, Japan's current account to GDP measure was positive, ranging from 1.7% to 4.8%.
- With the recession in 2008-2009, Japan's current account to GDP measure declined to a low of 1.6% in 2009 Q1 but quickly recovered to a local high of 4.1% in 2010 Q4.
- Over the next 13 quarters (2011 Q1 to 2014 Q1), Japan's current account to GDP measure declined to a low of 3.9 points to -0.7%.
- Over the next 14 quarters (2014 Q1 to 2017 Q3), Japan's current account to GDP measure recovered to a new local high of 3.5% in 2017 Q3.
- In the period to 2019 Q4, Japan's current account to GDP measure has increased to 3.8%.
REFERENCES
Report | Press Release | Balance of Payments
Based on Table 6s-a-2 Current Account (seasonally adjusted), Monthly
OECD BOP as a % of GDP
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