Japan Current Account to GDP Ratio
Japan's current account surplus reached 4.7% of GDP in 2024, the highest level since 2007 when it also stood at 4.7%. This represents an increase from 3.8% in 2023. The primary income balance drove this sustained high surplus, reaching a record ¥41.7 trillion in fiscal year 2024, an 11.7% increase from the previous year. This rise was bolstered by the yen's depreciation which amplified returns from overseas investments like dividends and interest. In contrast, the goods trade balance recorded a deficit of ¥4.05 trillion in fiscal year 2024, widening by 9.8% from the previous year due to increased imports. The services balance also registered a deficit of ¥2.58 trillion, although this deficit narrowed by 20.2% from the prior year, largely because of a record surplus in the travel balance from increased foreign tourism. Japan's record low current account to GDP was -1% in 1980 and its record high was 4.7% in 2007.
Yearly Historical Data (1980-2024)
(in %)The Japan current account to GDP shows Japan's net flow of income with the rest of the world, relative to its total economic output. It's calculated by dividing the current account balance which includes trade in goods, services, primary income and secondary income, by the GDP, then multiplying by 100, expressing it as a percentage. A positive value indicates a surplus while a negative value indicates a deficit.