FX.co ★ Japan Current Account Surplus Tops Estimates

Japan’s current account surplus rose to JPY 3,907.8 billion in April 2026, up from JPY 2,370.0 billion in the same month a year earlier, and exceeded market expectations of JPY 3,137.0 billion.

The goods account surplus jumped to JPY 395.7 billion from a negligible level a year earlier, as export growth (13.9%) outpaced the increase in imports (9.5%). The primary income surplus also expanded, reaching JPY 4,210.0 billion compared with JPY 3,649.8 billion a year earlier.

At the same time, the services account deficit narrowed significantly to JPY 416.0 billion from JPY 725.9 billion, while the secondary income deficit shrank to JPY 281.8 billion from JPY 553.1 billion.