The current account surplus rose 19.4 percent in November from a year earlier to 1.125 trillion yen, the Finance Ministry said in a preliminary report Thursday.
It was the third consecutive month of increase.
A ministry official attributed the rise to a narrower services trade deficit and a greater income account surplus covering income from Japanese direct investment in foreign countries and returns from Japanese investment in foreign securities.
The surplus in merchandise trade decreased 16.9 percent to 640.1 billion yen, with exports down 9.6 percent to 3.69 trillion yen and imports down 7.8 percent to 3.05 trillion yen.
The services trade deficit narrowed to 266.1 billion yen from a 372.3 billion yen deficit a year earlier, largely because of a fall in overseas travel following the Sept. 11 attacks, according to the ministry.
The income account posted a surplus of 818.1 billion yen, up from a 621.1 billion yen surplus a year earlier.
The current account balance -- the broadest gauge of trade in goods and services -- is the difference between a nation's income from foreign sources and foreign obligations payable, excluding net capital investment.
"The current account balance is entering an upward trend on a year-on-year basis as there is a sign that the declining trend of the trade surplus is coming to a halt and the income account surplus is on the rise," the ministry official said.
Falls in exports are becoming less steep, partly because the deterioration in demand for information-technology products appears to be ending, he said.
The capital and financial account portion of the nation's balance of payments showed a deficit of 1.39 trillion yen compared with a 674.9 billion yen deficit a year earlier.
The balance of portfolio investment showed a surplus of 5.14 trillion yen, a turnaround from a deficit of 725.9 billion yen a year earlier.