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Japan’s current account surplus widens in February
Japan’s current account surplus widens in February

Japan’s current account surplus came in at 2.81 trillion yen ($25 billion) in February, up from 65.5 billion yen in January, according to official data.

From 2016, the surplus widened by 18.2%. Analysts surveyed by Bloomberg had expected current account surplus at 2.51 trillion yen.

In January, the current account surplus was weak due to a monthly trade deficit due to the Lunar New Year holiday in the countries which are Japan’s trading partners.

Japan has had the current account surplus for many years thanks to a positive trade balance and stable primary income from foreign investments.

Japan’s strong current account surplus allowed it get into the US Treasury’s currency watch list, the latest version of which is scheduled for this month.

"Exports have stabilized after bottoming out, so this time we should see a good export figure," Yuichiro Nagai, an economist at Barclays Securities Japan, said.

"In the context of a global recovery, exports in the first quarter look like they’ll be riding a high wave," Nagai added. "One point to watch will be the weakening of auto exports to the US. It’s not clear what the cause is."

Published: 2017-04-14 10:11:00 UTC
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