Japan Current Account

Japan’s current account surplus decreased to JPY 3,775.8 billion in August 2025, down from JPY 3,966.1 billion in the same month a year earlier, though it exceeded market estimates of JPY 3,540 billion. It was the largest amount since February, as the goods account shifted to a surplus of JPY 105.9 billion from a shortfall of 385.6 billion in the previous year, as imports (-6.0%) fell much faster than exports (-0.4%). Meanwhile, the primary income surplus narrowed to JPY 4,298.6 billion from 4,859.6 billion, reflecting lower returns from overseas investments. At the same time, the services account deficit widened to JPY 189.9 billion from 0.8 billion, while the secondary income deficit edged higher to JPY 438.8 billion from 428.9 billion