Japan’s current account surplus rose to JPY 4,681.5 billion in March 2026 from JPY 3,625.3 billion a year earlier, beating market expectations of JPY 3,879 billion and marking a record high. The goods surplus expanded to JPY 830.5 billion from JPY 611.3 billion, as export growth (11.7%) outpaced imports (10.0%). The primary income surplus also widened, reaching JPY 4,630.7 billion compared with JPY 3,832.6 billion in the previous year.
At the same time, the secondary income deficit narrowed to JPY 522.0 billion from JPY 778.9 billion. By contrast, the services account deficit expanded sharply to JPY 257.8 billion from JPY 39.8 billion.
