Daily Management Review

Japan's payments surplus balance rises to $56B in the first half of 2023


It climbed by about $5.6 billion in comparison to the same period in 2022.

In the first half of 2023, Japan's balance of payments, which accounts for all international trade and financial activities, reached a surplus of 8,013.2 trillion yen, or almost $56 billion at the current exchange rate. According to the Finance Ministry, it increased by 802.3 billion yen ($5.6 billion) from a year earlier mostly as a result of a decline in the cost of imported oil.

Japan reduced its trade deficit with other nations from January through June to around 5,179 trillion yen (more than $36.1 billion). Due to an increase in vehicle exports and reduced costs for oil and liquefied natural gas, which the nation imports virtually entirely, the amount was down roughly 472 billion yen ($3.3 billion) year over year.

Japanese businesses invested abroad for a net profit of 17,529 trillion yen (more than $122.3 billion) from January through June 2023.

source: nikkei.com