International Business News – Japan’s Ministry of Finance announced on the 11th preliminary balance of payments statistics show that, due to the depreciation of the yen, the price of imported goods two unfavorable factors, Japan’s trade balance seriously deteriorated, August Japan’s current account surplus fell 96% year-on-year, again hit a new low since the same period of comparable statistics.
According to the report released by the Ministry of Finance, Japan’s current account surplus in August than a year earlier by about 1.44 trillion yen, only 589 billion yen (1 U.S. dollar is about 145 yen).
Data show that the trade in goods, Japan’s imports for the month of about 10.55 trillion yen, exports of about 8.06 trillion yen, a deficit of 2.49 trillion yen. In addition, Japan’s service trade deficit reached 615.9 billion yen in the same month.
The huge overseas investment income in August is the biggest reason for Japan’s current account to maintain a surplus. The month due to the significant increase in direct investment income, Japan’s overseas investment income increased to about 3.33 trillion yen.