FX.co ★ Japan Current Account Surplus Below Estimates

Japan's current account surplus experienced a decline, totaling JPY 728.8 billion in December 2025 compared to JPY 1,071.8 billion in the same month of the previous year, and also fell short of market expectations of JPY 1,060 billion. The primary income surplus saw a slight decrease, reaching JPY 1,189.4 billion from JPY 1,248.9 billion, while the secondary income deficit increased to JPY 255.4 billion from JPY 242.3 billion. Concurrently, the services account moved into a deficit position of JPY 340.1 billion, shifting from a minor surplus of JPY 0.11 billion observed previously. Conversely, the goods account surplus jumped to JPY 134.9 billion from a mere JPY 0.54 billion in the prior year, driven by exports rising by 4.5%, outpacing the 3.7% growth in imports.