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Japan’s 2025 Current Account Surplus Widens as Trade Deficit Shrinks

MOF’s preliminary report highlights strong investment income with import values tempered by cheaper oil.

Overview

  • Exports rose 2.5% to ¥107.763 trillion and imports edged down 0.1% to ¥108.611 trillion, narrowing the goods deficit to ¥848.7 billion.
  • The services balance posted a ¥3.3928 trillion deficit that widened year on year, even as inbound visitors reached 42.68 million, up 15.8%.
  • Primary income recorded a ¥41.5903 trillion surplus, expanding by ¥1.8702 trillion on higher direct investment returns.
  • The combined trade and services balance showed a ¥4.2415 trillion deficit, an improvement of ¥2.1952 trillion from the prior year.
  • The financial account registered a ¥30.2015 trillion net asset increase, led by a ¥32.785 trillion rise in outward direct investment alongside stronger nonresident buying of Japanese equities and bonds.