Japan's current account surplus narrowed to JPY 1.59 trillion in May 2019 from JPY 1.90 billion in the same month the previous year and below market consensus of JPY 1.39 trillion. The primary income surplus decreased to JPY 2.26 trillion from JPY 2.40 trillion a year earlier, while the goods gap widened to JPY 0.65 trillion from JPY 0.32 trilion. Meanwhile, the services account surplus increased to JPY 0.14 trillion from JPY 0.01 trillion a year earlier, while the secondary income deficit narrowed a bit to JPY 0.15 trillion from JPY 0.20 trillion. Current Account in Japan averaged 1140.42 JPY Billion from 1985 until 2019, reaching an all time high of 3360.40 JPY Billion in March of 2007 and a record low of -1456.11 JPY Billion in January of 2014.
Current Account in Japan is expected to be 1750.00 JPY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Current Account in Japan to stand at 1250.00 in 12 months time. In the long-term, the Japan Current Account is projected to trend around 440.00 JPY Billion in 2020, according to our econometric models.