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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

July 08, 2020
JAPAN CURRENT ACCOUNT, TRADE BALANCE, MAY 2020

Current Account

Comparing May 2020 with April 2020

  • Japan's Goods & Services trade deficit narrowed by 560.5 billion yen to 733 billion yen.
  • Primary income surplus widened by 75 billion yen to 1,762 billion yen.
  • Secondary income deficit widened by 66 billion yen to 208 billion yen.
  • As a result, the current account surplus widened by 569 billion yen to 821 billion yen over April 2020. 

 

Trade Balance

Comparing May 2020 with April 2020

  • Goods exports decreased 263 billion yen to 4,610 billion yen.
  • Goods imports decreased 746 billion yen to 5,151 billion yen. 
  • As a result, Net Goods trade deficit narrowed by 482 billion yen to 541 billion yen.
  • Net Services trade deficit narrowed by 78 billion yen to 192 billion yen.
  • Overall, the goods & services trade deficit narrowed by 560.5 billion yen to 733 billion yen over April 2020.

 

CURRENT ACCOUNT AS A SHARE OF GDP

Year-over-year (2019Q1 to 2020Q1), Japan's current account to GDP measure was virtually unchanged.  Quarter-over-quarter (2019Q4 to 2020Q1), Japan's current account to GDP measure declined 0.27 points to 3.6%.

 

REFERENCES

 Report | Press Release | Balance of Payments

Based on Table 6s-a-2 Current Account (seasonally adjusted), Monthly

OECD, Quarterly balance of payments statistics

 



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