March 8,2019

Balance of Payment Japan

Japan's current account surplus in December 2018 was 1562 billion yen, a rise from 1439 billion yen in November 2018.

Published monthly by the Ministry of Finance. Updated till the month of January 2018 (published on March 8th, 2019).

Recent data trend

Japan's current account surplus in December 2017 was 1480 billion yen, a decline from 1701 billion yen in November. As a percentage of GDP,the annualized ratio for December was 3.2%, a decline from 5.3% recorded in October 2017, but still a sizable surplus. For 2017 as a whole, Japan recorded 22 trillion yen of surplus, roughly 4% of GDP. In recent years, Japan derives most of its international balance of payment surplus from its income balance. For 2017 as a whole, only 20% of the curren...

To read more, please become a our Standard / Corporate subscriber.

Start a subscription with 30-days Free Trial

If you are already a JMA subscriber please

Brief overview of “Balance of payment”:

The balance of payment statistics makes an account for all the flow of funds across Japan’s border. In these statistics, financial flows are divided into two large categories. One category is called capital and financial account. Financial transactions that lead to transfers of assets/liabilities are included in the capital and financial account. The other category, known as current account, includes other transactions such as trades of goods and services, payment of interest and dividends and transfers such as international aids.
 
Japan has consistently recorded a surplus in its current account since 1981. The surplus consisted mostly of trade account surplus until the mid-2000s. In recent years, the income account surplus has increasingly become a dominant source of the surplus, while Japan’s trade surplus diminished, even falling to a deficit between 2011 to 2015. While the fall in energy prices helped return the trade balance back to surplus in 2016, it is uncertain if the trade surplus would persist. 
For more information visit the official government website.

Balance of Payment (Annual data, 1970-2016)

Note: The Japanese government publishes its Balance of Payment (BoP) statistics following BPM6 (Balance of Payments and International Investment Position Manual, 6th edition) going back to 1996. The BoP statistics we (JMA) show here for 1985-1995 are based on BPM5. The YoY change and YoY% growth we show here for 1996 is also based on BPM5, as the BPM6-based BoP statistics is available for 1996, but not for 1995. For 1970-85 the Japanese government has published the Balance of Payment Statistic in the USD denomination. We have converted it to Japanese Yen using average USD/JPY exchange rate for each year, except for 1970-72 for which we used end of the year USD/JPY exchange rates. 

Source: MoF, JMA

The Next Release Date: April 8th, 2019.

Suggested Pages

GDP

The revised estimate for the April-June quarter GDP published on September 10 shows that the Japanese economy grew by 0.7% quarter on quarter (QoQ), up from 0.5% QoQ in the initial estimate. A signif

View Page

FX Reserve and Intervention

At the end of January 2019, Japan had a total of 1.279 trillion USD, an increase of 83 million USD from December 2018. In January 2019, Japan did not conduct any foreign exchange intervention operati

View Page

Customs-Cleared Trade

The trade data for January 2019 clearly showed that something is seriously amiss with Japan''s export to China. Japan''s export to China fell by 17.4% year on year (YoY), recording the worst YoY declin

View Page

CPI

Consumer price inflation in Japan fell in April, with the year on year rise falling from 1.1% in March to 0.6% in April. The fall signals the end of the mini-cycle we saw in fresh food prices in the

View Page