The Japanese Ministry of Finance (MOF) announced on Thursday that the country logged its largest current account surplus in 18 months in September, with the trade balance swinging into the black. According to the data released by the MOF, the current account surplus stood at 2.72 trillion yen ($18.03 billion), slightly lower than the median forecast of 3.0 trillion yen in a Reuters poll.
The current account surplus was the eighth consecutive month of positive figures, with primary income gains from direct investment and portfolio investment reaching roughly 3 trillion yen in September, more than enough to cover the 341 billion yen trade surplus.
For the first half of the current fiscal year, Japan reported a record current account surplus of 12.7 trillion yen, with primary income gains amounting to 18.4 trillion yen, a record high that more than offset the 1.4 trillion yen trade deficit.
($1 = 150.8800 yen)