Kathmandu. Japan’s current account profit rose 3.2 percent year-on-year to 2.26 trillion yen (about $15.6 billion) in April.
This increase is mainly due to the significant improvement in the trade deficit. Japan’s finance ministry said in a preliminary report released on Monday.
Japan’s trade deficit narrowed to 32.8 billion yen in the same period, down 94.8 percent from a year earlier. The fall was as a result of exports rising 4.0 percent to 8.77 trillion yen and imports fell 2.9 percent to 8.80 trillion yen.
Primary income, that is, income from Japan’s overseas investments, fell 9.6 percent to 3.59 trillion yen in April. The main reason for this decline is the decrease in income from foreign direct investment, which is seen due to the increase in the value of the Japanese currency yen.
Similarly, the deficit in services trade increased by 4.8 percent to 768.1 billion yen. The increase in intellectual property rights payments has contributed to this. In addition, profit from the tourism sector increased by 18.3 percent to 675.7 billion yen. The number of foreign tourists visiting Japan in April increased by 28.5 percent compared to the same period last year to about 3.91 million.
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