Core Insights - Japan's Ministry of Finance reported a current account surplus of 3.4364 trillion yen (approximately 169 billion RMB) for May, marking a 16.5% increase year-on-year and maintaining a surplus for four consecutive months [1][1][1] Trade Balance - The trade balance showed a deficit of 522.3 billion yen, with exports declining by 1.4% to 8.0344 trillion yen and imports decreasing by 7.5% to 8.5568 trillion yen [1][1][1]

日本财务省5月12日公布的2024年度国际收支初值显示，反映与海外货物、服务及投资交易状况的经常 项目为顺差30.3771万亿日元，创历史新高。 ...

Group 1: Current Account and Trade Balance - The current account surplus increased by 61% year-on-year to $423.9 billion, accounting for 2.2% of GDP, remaining within the internationally recognized range[3] - The goods trade surplus reached a historical high of $768 billion, contributing 108% to the increase in the current account surplus[4] - Service trade deficit grew by 10% year-on-year to $229 billion, primarily driven by a 25% increase in travel service spending[5] Group 2: Capital Account and Investment Trends - The capital account deficit rose by 88% year-on-year to $486.2 billion, marking the third highest deficit since 2015[11] - Net outflow of domestic investment increased by 81% to $483.8 billion, with significant contributions from other investments and securities investments[13] - Foreign direct investment net inflow decreased to $18.6 billion, the lowest since 1993, indicating a shift in investment patterns[19] Group 3: Foreign Exchange Reserves and Market Impact - Foreign exchange reserves decreased by $35.6 billion due to short-term capital outflow pressures, marking the fourth annual net decrease since 1994[24] - The basic international balance of payments surplus increased from $89.1 billion to $270.2 billion, while short-term capital deficit rose to $332.5 billion[24] - The net foreign asset position reached $3.2958 trillion, with a significant improvement in the private sector's net foreign liabilities, which fell to $159.8 billion[29]