China News Service, Tokyo, November 9 (Reporter Zhu Chenxi) The preliminary balance of payments statistics report released by the Japanese Ministry of Finance on the 9th shows that Japan's current account surplus in the first half of fiscal year 2022 (April to September) fell by 58.6% year-on-year. The lowest level since the same period in 2014.
The report shows that Japan’s current account surplus in the first half of fiscal year 2022 was 4.85 trillion yen, a year-on-year decrease of 6.86 trillion yen.
According to the Japan Broadcasting Association TV report, the rise in crude oil and other energy prices combined with the sharp depreciation of the yen has caused Japan's trade balance to deteriorate.
In terms of trade in goods, the prices of imported commodities such as crude oil, coal, and liquefied natural gas have risen sharply. In the first half of fiscal year 2022, Japan's imports amounted to 58.76 trillion yen, a year-on-year increase of 47.1%. The trade balance turned from a surplus in the same period last year to a deficit. The deficit reached 9.23 trillion yen, the highest in history for the same period.
The deficit in services trade, including tourism and goods transportation, was 3.16 trillion yen.
The overall trade balance has a deficit of 12.40 trillion yen.
The first income and expenditure surplus, which reflects the trend of interest and dividends generated by overseas investment, was 18.23 trillion yen, a year-on-year increase of 25.2%.
The report shows that the growth of overseas investment income is the main reason for Japan's current account to maintain a surplus.
According to a report released by the Ministry of Finance on the same day, Japan's current account surplus in September fell by 45% year-on-year to 909.3 billion yen.
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