First-half Reiwa 8 current account surplus of JPY 17,429.2 billion; trade balance swings to a surplusA big plus in money flowing in and out with other countries over six months, and buying and selling goods is in the black too

In the preliminary balance of payments for the first half (January to June) released by the Ministry of Finance on August 10, 2026 (Reiwa 8), the current account balance showed a surplus of JPY 17,429.2 billion, a surplus JPY 3,198.5 billion larger than the same period a year earlier. The trade balance showed a surplus of JPY 742.1 billion, turning from a deficit in the same period a year earlier.

Key points

• Current account balance: surplus of JPY 17,429.2 billion (surplus JPY 3,198.5 billion larger than a year earlier)
• Trade balance: surplus of JPY 742.1 billion, an improvement of JPY 2,205.7 billion from a year earlier (swing to a surplus)
• Primary income balance: surplus of JPY 20,491.4 billion (surplus JPY 70.4 billion larger than a year earlier)
• Services balance: deficit of JPY 1,822.3 billion, deficit JPY 243.8 billion larger than a year earlier

What to do in practice

• Organize the share that overseas transactions (exports, imports, and payments and receipts for services) account for in your own income and expenditure, and run estimates assuming a range of exchange rate movements
• If you receive dividends or interest from overseas, confirm the treatment of withholding tax and the foreign tax credit with your tax advisor