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Financial News: Japan Current Account Surplus Y1,653.9 Billion

Japan Current Account Surplus Y1,653.9 Billion

07/09/2017 - 21:30:00 (RTTNews)

(RTTNews) - Japan posted a current account surplus of 1,653.9 billion yen in May, the Ministry of Finance said on Monday.

That missed forecasts for 1,792.8 billion yen following the 1,951.9 billion yen surplus in April.

The trade balance showed a deficit of 115.1 billion yen, missing expectations for a shortfall of 45.0 billion yen and down from the 553.6 billion yen surplus in the previous month.

Imports were up 15.8 percent on year to 5.829 trillion yen after gaining 14.0 percent in April.

Exports were up an annual 12.9 percent to 5.714 trillion yen after advancing 10.0 percent in the previous month.

The capital account showed a deficit of 124.7 billion yen following the 3.2 billion yen shortfall a month earlier.

The financial account saw a surplus of 2.184 trillion yen, up from 1.070 trillion yen in April.

The adjusted trade surplus was 1,400.9 billion yen - missing forecasts for 1,629.5 billion yen and down from 1,807.4 billion yen.

Also on Monday, the Bank of Japan said that overall bank lending in Japan was up 3.3 percent on year in June, standing at 513.772 trillion yen.

That exceeded expectations for a gain of 3.2 percent, which would have been unchanged from the May reading.

Excluding trusts, bank lending also was up an annual 3.3 percent to 446.927 trillion yen. That was unchanged and in line with expectations.

Lending from trusts was up 2.8 percent on year to 66.844 trillion yen after rising 2.9 percent a month earlier.

Lending from foreign banks climbed 9.1 percent to 2.085 trillion yen - slowing from 13.1 percent in May.

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