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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

June 08, 2023


Since January 1996, there have been four monthly occasions where than Japannese current account was in deficit. In 2012 there was 1 occasion and 2014 there were 2 months where the current account was in deficit. In October 2022 the fourth occasion occurred. The Japanese economy quickly adjusted by reducing goods imports, increasing goods exports and reducing the services deficit to a surplus. For the past six months the Japanese current account has been in surplus.

 Current Account (April 2023 vs March 2023) 

The net current account surplus widened by 891 billion yen to 1,900 billion yen.

  • Net goods deficit was narrowed  by 590 billion yen to 380 billion yen.
  • Net services deficit was reduced by 444.6 billion yen, resulting in a new services surplus of 25.9 billion yen.
  • The net primary income surplus narrowed by 47 billion yen to 2,676 billion yen.
  • The net secondary income deficit widened by 97 billion yen to 422 billion yen.


 Trade Balance (April 2023 vs March 2023)

The net goods deficit narrowed by 590 billion yen to 380 billion yen.

  • Goods exports increased 327 billion yen to 8,322 billion yen.
  • Goods imports decreased 263 billion yen to 8,703 billion yen.



Report | Press Release | Balance of Payments

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


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