Japan Posts $25B Current Account Surplus in February

Japan posted a current account surplus of 2.81 trillion yen ($25.3 billion) in February, a record-high for the month, as a surge in exports to other Asian countries pushed up its trade surplus, government data showed Monday.

The figure marked a 18.2 percent year-on-year increase, representing the 32nd straight month of surplus in one of the widest gauges of a country’s international trade.

Goods trade registered a surplus of 1.08 trillion yen, returning to the black for the first time since December, the Finance Ministry said in a preliminary report.

Exports to China and other Asian countries were robust, while rising crude oil prices put a damper on the value of imports.

Japan relies heavily on energy imports, with most of the country’s nuclear power plants remaining offline following the 2011 Fukushima nuclear disaster.

The surplus in the primary income account, which reflects how much Japan earns from foreign investments, stood at 1.98 trillion yen, slipping 1.9 percent from a year earlier.

via Mainichi

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