Japan's current account surplus in January expanded a preliminary 49.8 percent from a year earlier to 1.19 trillion yen as the income surplus expanded and the deficit in goods and services trade narrowed, the Finance Ministry said Monday.
The reading came after the current account surplus in December contracted 5.0 percent to 1.78 trillion yen, its first contraction since June.
Trade in goods and services logged a deficit of 78.5 billion yen, compared with a deficit of 297.6 billion yen the same month a year ago, the ministry said.
Merchandise trade logged a surplus of 114.0 billion yen, compared with a deficit of 215.3 billion yen the previous year.
Exports, which also grew, climbed 18.2 percent to 5.63 trillion yen in January, stretching its growth streak to 38th consecutive months. Export growth was led by automobiles, electronics and steel. Imports, which grew 10.8 percent to 5.52 trillion yen, were led by nonferrous metals and liquefied gas, up for a 35th consecutive month.
The deficit in services, which includes travel, transport and other service fees, widened to 192.5 billion yen from 82.2 billion yen a year earlier as more Japanese traveled overseas, the ministry said.
The income surplus, or net income from Japan's overseas investments, rose 15.8 percent to 1.35 trillion yen as interest income and stock dividends rose, the ministry said. In December, the income surplus shrank 9 percent to 845 billion yen.
The current account is the broadest gauge of trade of goods, services and investment income between Japan and other economies.