Japan records 16.721 billion euro current-account surplus in July

Japan recorded a current-account surplus of 2.99 trillion yen, about 16.721 billion euros, in July, according to preliminary figures released by the Finance Ministry.

The surplus increased 15.6 percent from the same month a year earlier. Japan’s trade balance, however, recorded a deficit of 399.9 billion yen, larger than the 187.7 billion yen deficit in July last year and the 135.2 billion yen deficit in June.

Exports rose 24.1 percent year on year to 11.25 trillion yen, while imports grew 25.9 percent to 11.65 trillion yen. The services balance posted a deficit of 512.9 billion yen, an improvement from the 771.1 billion yen deficit recorded a year earlier.

The income account showed a surplus of 4.28 trillion yen, up 5.8 percent from a year earlier. The transfers account recorded a deficit of 387.9 billion yen, narrowing 23.8 percent year on year. The balance of payments tracks a country’s transactions in goods, services, income and transfers with the rest of the world.