Japan’s 2023 fiscal year current account surplus reached a new high

In the fiscal year 2023, Japan’s current account surplus was 25.34 trillion yen, an increase of 16.26 trillion yen from the previous fiscal year.

The preliminary international balance of payments report released by the Japanese Ministry of Finance on the 10th shows that Japan’s trade balance has significantly improved in the fiscal year 2023 (April 2023 to March 2024), with a current account surplus reaching a historic high.

The report shows that Japan’s current account surplus for the fiscal year 2023 was 25.34 trillion yen (approximately 155 yen per US dollar), an increase of 16.26 trillion yen from the previous fiscal year.

In terms of goods trade, due to the favorable situation of automobile exports to the United States, the export volume increased by 2.1% to 101.87 trillion yen; Benefiting from the decline in energy and resource prices in the international market, imports decreased by 10.3% to 105.44 trillion yen. The trade deficit in goods narrowed to 3.57 trillion yen in the fiscal year 2023.

In terms of service trade, benefiting from the increase in inbound tourism revenue, the service trade deficit has narrowed to 2.45 trillion yen.

In addition, the increase in overseas securities investment returns has increased overseas investment returns, including interest and dividends, to 35.53 trillion yen.