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March 09, 2021JAPAN CURRENT ACCOUNT AND TRADE BALANCE, JANUARY 2021 
Current Account (January 2021 vs December 2020)
The current account surplus narrowed by 577 billion yen to 1,500 billion yen.
The goods and services trade surplus narrowed by 187 billion yen to 301 billion yen.
The primary income surplus narrowed by 288 billion yen to 1,489 billion yen.
The secondary income deficit widened by 102 billion yen to 290 billion yen.
Trade Balance (January 2021 vs December 2020)
Japan's goods trade surplus narrowed by 151 billion yen to 662 billion yen.
Exports of goods increased 209 billion yen to 6,235 billion yen.
Imports of goods increased 360 billion yen to 5,573 billion yen.
Net Services trade deficit widened by 36 billion yen to 361 billion yen.
As a result, Goods and services trade surplus narrowed by 187 billion yen to 301 billion yen .
CURRENT ACCOUNT AS A SHARE OF GDP (2020Q4 vs 2020Q3)
Japan's current account surplus (as measured as a share of GDP) increased from 2020Q3 to 2020Q4, increasied by 1.4 percentage points to 4.8%.
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 (leading, acquisition of assets) outside the country.
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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