Macro Monday Japan:Balance of payments
类型:宏观经济 机构:麦格理证券股份有限公司 研究员:麦格理证券研究所 日期:2016-11-09
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The current account comprises the goods, services and income balances (netpayments on assets, eg, bond interest payments). Asset movements are thecapital account. Inbound tourism is an export of services.
As shown below, Japan’s goods trade balance is returning to its pre-March 2011triple-disaster (earthquake, tsunami, Fukushima) level. The current accountsurplus is exceeding its 2010 highs as the service/income balance expands.
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