Japan Current Account Surplus Up To 2.64 Trillion Yen In February

Japan's current account surplus in February grew 20.2% from a year earlier to 2.64 trillion yen ($17.4 billion), after the trade deficit more than halved and foreign investment returns hit their second-highest level for the month, the Finance Ministry said, Kyodo News reported.

The trade deficit stood at 280.9 billion yen, helped by export growth as auto shipments were robust.

The trade deficit stood at 280.9 billion yen, helped by export growth as auto shipments were robust. Exports grew 5.5 percent to 8.10 trillion yen, while imports rose 1.4 percent to 8.38 trillion yen, though the value of energy imports such as coal declined.

Primary income, which reflects returns on overseas investments, marked a surplus of 3.31 trillion yen, down 4.2 percent from a year earlier when it hit a record high, Mainichi Japan also reported.

The increase came amid higher overseas yields as major central banks have raised interest rates. Japan had a smaller income from direct investment, according to the ministry.

The nation remained in the black for the 13th straight month thanks to stable growth in primary income.

The current account balance is one of the widest gauges of international trade. The travel surplus more than doubled from a year earlier to 417.1 billion yen due to an increase in foreign visitors to Japan.

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