— Japan July Current Account Surplus -42.4% Y/Y; June -50.2%
— Japan July Current Account Surplus at Y990.2 Bln
— Japan Jul C/A MNI Poll Median Call -31.3%, Y1.18 Trln Surplus
— Japan July Current Account Surplus Posts 5th Y/Y Drop In Row
TOKYO (MNI) – Japan’s current account surplus shrank for the fifth
consecutive month in July as global shipments continued to fall despite
a quick recovery in quake-ravaged supply chains in Japan, data released
by the Ministry of Finance on Thursday showed.
The current account surplus stood at Y990.2 billion ($12.8 billion)
in July, down 42.4% from the surplus of Y1.72 trillion a year earlier.
But the pace of the decline slowed from declines of 50.2% in June,
51.7% in May and 69.5% in April.
The headline figure came in weaker than the median forecast in a
Market News International survey, which called for a fall of 31.3% to
Y1.18 trillion.
The income surplus, the largest component of the current account,
rose 18.1% on year to Y1.25 trillion in July.
Exports fell 2.3% in July from a year earlier, compared with falls
of 1.1% in June, 9.8% in May and 12.7% in April, while imports increased
13.6% following a 11.9% rise in June.
Based on the MOF’s customs-cleared trade data for July released
last month, the fall in exports was led by ships (-31.0% y/y),
semiconductors and other electronic devices (-15.0%) and automobiles
(-3.8%)
The services account — including transport, travel and financial
services — posted a deficit of Y306.2 billion in July, compared with a
deficit of Y149.3 trillion a year earlier.
The combined goods and services accounts were in deficit by Y182.9
billion in July, compared with a surplus of Y747.9 billion a year
earlier.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5408-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
