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Account surplus grows 2.1% in Jan.-June

Jiji Press TOKYO (Jiji Press) — The nation’s current account surplus in January-June grew 2.1 percent from a year before to ¥10,841.1 billion, thanks to increased dividend and interest income from abroad, Finance Ministry data showed Wednesday.

The country posted a goods trade surplus of ¥1,815 billion, down 11.2 percent.

While exports rose 7.2 percent to ¥40,046.7 billion on brisk shipments of automobiles and chipmaking equipment, imports were up 8.3 percent at ¥38,231.7 billion due to growth in crude oil and other energy imports reflecting higher market prices, according to the preliminary balance of payments data.

The surplus at the primary income account, which covers dividend and interest flows, among others, increased 6.8 percent to ¥10,532.4 billion, led mainly by a rise in domestic companies’ dividend receipts from overseas units.

At the service account, Japan logged a deficit of ¥421.6 billion, bigger than the year-before deficit of ¥263 billion.

More and more Japanese firms accelerated their operations abroad, resulting in a decrease in the amount of business income brought into Japan, an MOF official said, explaining the reason for the expansion in the deficit.Speech

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