FX.co ★ Japan Current Account Surplus Above Forecasts

In August 2025, Japan's current account surplus narrowed to JPY 3,775.8 billion from JPY 3,966.1 billion in the same period the previous year, although it surpassed the market forecast of JPY 3,540 billion. This figure represented the highest surplus since February. The goods account notably transitioned to a surplus of JPY 105.9 billion, recovering from a deficit of JPY 385.6 billion a year prior. This improvement was due to imports decreasing by 6.0%, a rate significantly higher than the 0.4% decline in exports. Concurrently, the primary income surplus declined to JPY 4,298.6 billion from JPY 4,859.6 billion, indicative of reduced returns on overseas investments. Furthermore, the services account deficit expanded to JPY 189.9 billion from JPY 0.8 billion, and the secondary income deficit increased slightly to JPY 438.8 billion from JPY 428.9 billion.