Japan posted a current account surplus of 2,795.3 billion yen in March, the Ministry of Finance said on Wednesday – surging more than 2,000 percent on year.
The headline figure topped forecasts for a surplus of 2,061.3 billion yen and was up from 1,440.1 billion yen in February.
The trade balance reflected a surplus of 671.4 billion yen – also topping expectations for a surplus of 527.5 billion yen following the 143.1 billion yen deficit in the previous month.
Exports added 9.8 percent on year to 7,136.0 billion yen, up from the 0.4 percent gain a month earlier. Imports tumbled an annual 15.8 percent to 6,464.6 billion yen after falling 6.2 percent in February.
The data also showed that the capital account balance reflected a deficit of 110.8 billion yen after showing a 6.8 billion yen shortfall in February.
The financial account had a surplus of 4,847.9 billion yen – up from the 2,340.2 billion yen surplus in the previous month.
The adjusted current account surplus came in at 2,066.3 billion – beating expectations for 1,358.0 billion yen and up from 606.1 billion yen a month earlier.
Also on Wednesday, the Bank of Japan said that overall bank lending in Japan was up 2.6 percent on year in April, coming in at 489.010 trillion yen.
That follows the 2.6 percent increase in March and the 2.5 percent gain in February.
Excluding trusts, bank lending was up 2.7 percent on year to 425.292 trillion yen. That follows the 2.7 percent increase in March and the 2.6 percent gain in February.
Lending from trusts was up an annual 1.9 percent to 63.718 trillion yen after gaining 1.7 percent in the previous month.
Lending from foreign banks tumbled an annual 12.2 percent to 1.898 trillion yen – down from 10.4 percent a month earlier.
The material has been provided by InstaForex Company – www.instaforex.com