Japan Current Account Surplus Hits 9 Year High

February 8, 2017 Share Print 0

Japan says its current account surplus hit a 9-year high in 2016, helped by lower costs for imported oil and improved exports.

The perennial trade surpluses Japan runs with the U.S. are a sore point for U.S. President Donald Trump, and the data announced Wednesday came just as Prime Minister Shinzo Abe was preparing for summit meetings with Trump later in the week.

The current account is a wide gauge of trade and includes investment flows as well as exports and imports. The 20.65 trillion yen ($183.7 billion) surplus was up 25 percent from a year before and the second highest on record.

Exports fell by less than imports, leaving a goods trade surplus of 5.58 trillion yen ($49 billion), after a deficit of 628.8 billion yen in 2015.

via Mainichi

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.