Japan's current account surplus rose to ¥4.06tn in August, up from ¥2.99tn in July and ¥3.63tn a year earlier, according to preliminary balance of payments figures from the Ministry of Finance and the Bank of Japan. The year-on-year gain was 12.0%.
Income carries the surplus
Primary income, which covers returns on Japan's overseas investments, was ¥5.13tn, against ¥4.29tn in July and ¥4.22tn in August 2025. The ministry puts the year-on-year rise at 21.6%.
Trade pulled the other way. The goods balance was a deficit of ¥688bn, compared with a ¥400bn deficit in July and a ¥114bn surplus a year earlier. Exports were ¥9.86tn, up 16.9% from a year earlier but below July's ¥11.26tn. Imports were ¥10.55tn, up 26.7% year on year. The services balance was a deficit of ¥116bn, and secondary income was a deficit of ¥268bn.
| Item | August 2026 | July 2026 | August 2025 |
|---|---|---|---|
| Current account | ¥4.06tn | ¥2.99tn | ¥3.63tn |
| Goods and services | -¥804bn | -¥913bn | -¥153bn |
| Primary income | ¥5.13tn | ¥4.29tn | ¥4.22tn |
| Exports | ¥9.86tn | ¥11.26tn | ¥8.44tn |
| Imports | ¥10.55tn | ¥11.66tn | ¥8.33tn |
On a seasonally adjusted basis the current account surplus was ¥2.98tn, up from ¥2.52tn in July. The adjusted goods balance was a ¥485bn deficit.
What moved in the financial account
The financial account totalled ¥2.22tn, against ¥1.76tn in July. Under the current convention, a plus sign marks an increase in assets or liabilities and a minus sign a decrease.
Direct investment was a net minus ¥1.02tn after plus ¥2.62tn in July. Direct investment assets rose ¥421bn while direct investment liabilities rose ¥1.44tn.
Portfolio investment was a net plus ¥4.97tn after minus ¥675bn in July. Portfolio assets rose ¥117bn, while portfolio liabilities fell ¥4.86tn.
Reserve assets fell ¥15.09tn in August, after a ¥376bn rise in July. The release gives no cause for the decline.
The figures are preliminary, and the ministry notes that totals may not add because of rounding. The Bank of Japan compiles the statistics under delegation from the finance minister.