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Japan's Balance of Payments Statistics and International Investment Position for 2020

August 13, 2021
International Department
Bank of Japan


The overall current account surplus decreased. While the spread of the novel coronavirus (COVID-19) had a wide-ranging impact on the current account, the decrease in the current account surplus mainly reflects the increase in the deficit on services, largely due to the decline in the surplus on travel. The surplus on primary income also decreased, mainly due to a decline in the surplus on portfolio investment income. Meanwhile, the surplus on goods increased, reflecting the fact that although exports decreased due to the depression in overseas economies, imports fell even more.

Japan's financial account registered a decrease in net lending mainly due to a decline in net lending under direct investment.

Japan's net asset position remained essentially unchanged from the previous year.


Appendix 1.
Impact of the Spread of COVID-19 on Goods and Transport
Appendix 2.
Components under Goods
Appendix 3.
Developments in Direct Investment by Type of Investment
Appendix 4.
Developments in Direct Investment Income and Its Recording Method
Appendix 5.
Update of the IMF's Balance of Payments and International Investment Position Manual
Appendix 6.
Issues regarding Developments in the International Investment Position by Factor and Challenges Ahead for Japan's Statistics


This report is an English translation of the Japanese original released on July 8, 2021.

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Balance of Payments Statistics Group, Balance of Payments Division, International Department

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