FX.co ★ Japan Swings to ¥2.989 Trillion Current Account Surplus in July After June Deficit

Japan’s external balances showed a sharp turnaround in July 2026, as the country’s current account n.s.a. shifted from a deficit to a substantial surplus, according to official data updated on 7 September 2026.

The current account n.s.a. improved to ¥2.989 trillion in July 2026, after recording a deficit of ¥0.092 trillion in June 2026. The move from negative to strongly positive territory highlights a significant month‑on‑month reversal in Japan’s external position over the summer period. While the data release does not break down the components driving the shift, the headline figure underscores a marked strengthening in Japan’s balance with the rest of the world.

The July surplus will be closely watched by market participants and policymakers as they assess Japan’s external resilience and the potential implications for currency dynamics, trade conditions and overall economic momentum in the second half of 2026.