Japan’s current account surplus reached a record high last year, driven by a weaker yen that increased returns on foreign investments, offsetting a trade deficit.
The surplus in the current account hit 29.3 trillion yen ($192.67 billion) in 2024, the highest on record since 1985, marking a 29.5 per cent rise from the previous year.
Primary income from securities and direct investment overseas reported a record surplus of 40.2 trillion yen, buoyed by Japanese companies expanding globally through acquisitions of foreign firms.
The trade deficit fell 40 per cent to 3.9 trillion yen due to strong exports of automobiles and chipmaking equipment, along with reduced energy import costs. The travel surplus rose to 5.9 trillion yen, driven by a growing inbound tourism sector.
Attribution: Reuters
Subediting: Y.Yasser