FX.co ★ Japan Current Account Surplus Below Forecasts

Japan experienced an increase in its current account surplus, reaching JPY 2,833.5 billion in October 2025, up from JPY 2,453.8 billion in October of the previous year. This figure, however, fell short of market forecasts, which anticipated a surplus of JPY 3,109.5 billion. The goods account transitioned into a surplus of JPY 0.98 billion, a turnaround from the JPY 152.7 billion deficit recorded the year before, driven by a 2.8% rise in exports compared to a modest 0.1% increase in imports. Additionally, the primary income surplus expanded to JPY 3,464.6 billion from JPY 3,190.0 billion. The secondary income deficit also saw improvement, decreasing to JPY 434.8 billion from JPY 496.8 billion. Conversely, the services account deficit saw a significant increase, widening to JPY 294.6 billion from just JPY 0.87 billion previously.