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Balance of Payments Related Statistics (Data Based on the BPM6 [Data from January 2014 onward])

BOJ Time-Series Data Search

The balance of payments (BOP) related statistics are aggregated and estimated by the Bank of Japan, which is entrusted with the task by the Minister of Finance under the Foreign Exchange and Foreign Trade Act. The statistics are jointly released by the Ministry of Finance (MOF) and the Bank.

Materials related to data from January 2014 onward compiled based on the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) published by the International Monetary Fund (IMF) are posted. For materials related to data compiled based on the fifth edition of the Balance of Payments Manual (BPM5) published by the IMF, see Balance of Payments Related Statistics (Data Based on the BPM5).

Explanation

Information on the compilation of the statistics is available on the pages below:

Annual Reports and Related Research Papers

List of Statistics

The BOP related statistics comprise (1) flow data on various economic transactions with the rest of the world and (2) stock data on external financial assets and liabilities accumulated as a result of such transactions. In addition to the BOP (flow data) and the international investment position (IIP) (stock data), the MOF and the Bank compile and disseminate detailed data, including major components by partner economy,1 direct investment by industry, and portfolio investment etc. by currency, based on the data collected for the compilation of the BOP and IIP.

  1. Note: 1 Unless otherwise stated, a Breakdown by Partner Economy is available for 33 major economies.

Most data of the BOP related statistics are available in the BOJ Time-Series Data Search. However, some data are available on this website or the MOF website only. For further information, see Access to Data.

Flow Data

  • BOP
    Statistics that systematically record Japan's economic transactions with the rest of the world during a certain period (monthly).
    The BOP comprises (1) the current account for transactions in goods, services, and income, as well as current transfers; (2) the financial account for transactions in external financial assets and liabilities, including direct and portfolio investment; and (3) the capital account. Data such as on portfolio investment are broken down by sector of the resident and by maturity.
  • Regional BOP
    Major components of the BOP broken down by economy of the counterparty (quarterly).
  • Data related to direct investment
    • Direct Investment Assets/Liabilities, Country Breakdown: gross (execution and withdrawal) and net transactions of direct investment broken down by economy of the counterparty (monthly).
    • Direct Investment Flows by Region and Industry:1 transactions in outward/inward direct investment broken down by economy of the counterparty and industry of the investee (22 industries) for all economies for which transaction data for the reference period are available (quarterly and annual).
    • Direct Investment Income by Region and Industry: receipts/payments of direct investment income broken down by economy of the counterparty and industry of the payer (22 industries) (quarterly and annual).
  • Data related to portfolio investment (monthly)
    Portfolio Investment Assets/Liabilities: statistics that record gross (acquisition and disposition) and net transactions in securities by type of securities (unless otherwise stated, equity and investment fund shares, long-term debt securities, and short-term debt securities) from a variety of perspectives, consisting of the following:
    • Summary.
    • Portfolio Investment Assets by Type of Investors: transactions broken down by sector and type of resident investor.
    • Portfolio Investment Assets by Quotation Currency: transactions broken down by currency (for 10 currencies).
    • Portfolio Investment Assets, Country Breakdown of Sovereign Bonds: transactions in sovereign bonds (i.e., the total of government, government agency, and local government bonds) broken down by economy of issuer (for 12 economies).
    • Portfolio Investment Liabilities by Type of Debt Securities: transactions in Japanese debt securities by type of security (government bonds, government agency bonds, local government bonds, other bonds, and other securities).
    • Portfolio Investment Assets, Country Breakdown: transactions broken down by economy of issuer (for 45 economies).
    • Portfolio Investment Liabilities, Country Breakdown: transactions broken down by economy of transactor (for 45 economies).
    • (Reference) International Transactions in Securities (based on reports from designated major investors): statistics that are compiled with an emphasis on timeliness and cover only major financial institutions designated by the Minister of Finance (weekly as well as monthly, released by the MOF).

Stock Data

  • IIP of Japan
    Statistics that show the value and composition of Japan's external financial assets and liabilities at a particular point in time (quarterly and annual).
    Items are classified into categories such as direct investment and portfolio investment, following the same principles as the financial account of the BOP. Data such as on portfolio investment are broken down by sector of the resident and by maturity.
  • Year-on-Year Changes in Japan's IIP by Factor (Estimates)
    Statistics showing the factors responsible for year-on-year changes in Japans' external financial assets and liabilities (annual).
  • Gross External Debt Position of Japan
    Position data on debt instruments (financial instruments that require the payment of principal and/or interest) under the liability side of the IIP (quarterly).
  • Data related to direct investment position (annual)
    • Regional Direct Investment Position (Assets/Liabilities): direct investment position broken down by economy of the counterparty.
    • Regional Direct Investment Position (Assets) (All Regions): statistics that show the direct investment positions for all economies for which such data are available.
    • Direct Investment Position by Region and Industry:1 outward/inward direct investment positions broken down by economy of the counterparty and industry of the investee (22 industries).
    • Regional Direct Investment Position (Inward Investment) (Ultimate Investor):1 inward direct investment position classified by the economy in which the ultimate investor holding ultimate control resides.
  • Data related to the portfolio investment and financial derivatives position (annual)
    Statistics that record Japan's "portfolio investment" (broken down into equity securities other than investment fund shares, investment fund shares or units, long-term debt securities, and short-term debt securities) and "financial derivatives (other than reserves)" position from a variety of perspectives, consisting of the following:
    • Regional Portfolio Investment and Financial Derivatives Position (Assets/Liabilities): portfolio and financial derivatives position broken down by economy of the counterparty.
    • Portfolio Investment and Financial Derivatives Position by Sector of Resident Holder and Region (Assets): portfolio investment and financial derivatives position broken down by sector of the resident holder (creditor) and economy of the issuer (debtor).
    • Regional Portfolio Investment Position (Assets) (All Regions): statistics that show the portfolio investment positions for all economies for which such data are available.
    • Portfolio Investment Position (Assets/Liabilities) by Currency and Type of Securities: portfolio investment position broken down by currency (for 11 currencies).
  • Debt position (assets/liabilities) by currency (annual)
    Statistics that record the position in debt instruments under portfolio investment and other investment from a variety of perspectives, consisting of the following:
    • Debt Position (Assets/Liabilities) by Currency: debt position broken down by currency (classified into Japanese yen, U.S. dollar, euro, and other), sector of the resident, and maturity.
    • Debt Position (Assets/Liabilities) by Currency (Foreign Currency/Japanese Yen): debt position broken down by currency (classified into foreign currencies and Japanese yen), sector of the resident, instrument, and maturity.
  • External Assets and Liabilities of Banks, etc.
    External asset/liability position of resident banks in Japan (Japanese banks and branches of foreign banks in Japan) broken down by maturity and currency (classified into foreign currencies and Japanese yen) (monthly).
  1. Note: 1 Compiled according to the directional principle. For details, see Recording Principles of Direct Investment.

In addition, data on Japan's direct and portfolio investment position by region based on criteria other than those used for the statistics above are provided to the IMF for its Coordinated Direct Investment Survey (CDIS) and the Coordinated Portfolio Investment Survey (CPIS).

Access to Data

Recent Data

Materials (such as press releases) providing an overview of recent data can be found on the MOF website.

Time-Series Data

BOP related time-series data are, in principle, available in the BOJ Time-Series Data Search. Time-series data for major components are also available on the MOF website (see the above links). The following statistics that are not available in the BOJ Time-Series Data Search can be obtained from the links below.

Table 1 shows the BOP related statistics for which time-series data are available in the BOJ Time-Series Data Search. Data can be searched for by clicking on "Balance of Payments" under "Search by statistics." In addition to individual BOP related data series, the Data Search website also provides flat files of BOP related data under Flat Files Download. The lists of series codes in the table contain the names of items and their series codes. For details on the components and structure of BOP items, see Components and Structure below.

Table 1: Time Series for BPM6-Based BOP Statistics in the BOJ Time-Series Data Search

Table 1: Time Series for BPM6-Based BOP Statistics in the BOJ Time-Series Data Search
Time Series Period Series Codes
Balance of Payments,1 Regional Balance of Payments (Quarterly) From January 2014 onward2 [XLSX 275KB]
International Investment Position (Calendar Year Data) From the end of 2014 onward2,3 [XLSX 162KB]
International Investment Position (Quarterly Data) & Gross External Debt Position of Japan From the end of March 2014 onward [XLSX 22KB]
Historical Data Rearranged Based on the BPM6 4 From January 1996 through December 2013 [XLSX 37KB]

Notes:

  1. Includes monthly data related to direct investment and portfolio investment (as appendixes) as well as the External Assets and Liabilities of Banks, etc.
  2. When possible, data series are linked with historical data rearranged based on the BPM6 for 1996 through 2013.
  3. Data for the Regional Direct Investment Position (Inward Investment) (Ultimate Investor) are available from the end of 2015 onward, while data for some items are available from the end of 2016 onward. See Notes on Statistics for details.
  4. Data that were originally compiled based on the BPM5 and have been rearranged in accordance with the BPM6. Although rearranged annual data for main components are available from 1985 through 2013, data from 1985 through 1995 were originally compiled based on the BPM4 and have been rearranged in accordance with the BPM5, but not with the BPM6 due to the lack of necessary information. Rearranged data based on the BPM5 are available to the extent that a rearrangement of accounts and changes in the presentation of data based on the BPM4 are feasible.

Release Schedule

Flow Data

Japan's BOP statistics are compiled on a monthly basis and preliminary figures are released two months after the month in which transactions took place (referred to as the "reference month" hereafter). Second preliminary figures, which incorporate source data not available for the release of preliminary figures and reports that came in late or were corrected after the release, are then released four months after the last month of the quarter to which the reference month belongs. Annually revised figures incorporating reports that came in late or were corrected thereafter are released in April of the following two years. In addition, for "reinvested earnings" and "reinvestment of earnings," as well as higher-level items in which they are included (collectively referred to as "reinvested earnings-related items"1), reinvested earnings figures are revised in November in the relevant year through the year after next, and the figures are fixed in the annual revision released in April three years later.2 Seasonally adjusted data are revised every March and May using data released in the preceding months.

The Regional BOP are compiled on a quarterly basis and released five months after the last month of the relevant quarter. Annually revised figures incorporating reports that came in late or were corrected thereafter are released in May of the following two years. Reinvested earnings figures are revised in the same manner as the data series released monthly.

Notes:

  1. Specifically, reinvested earnings-related items comprise the following, where * denotes items for which regional data are released:
    • Current account: current account,* primary income,* investment income, direct investment income,* income on equity and investment fund shares, and reinvested earnings
    • Financial account: financial account,* direct investment,* and reinvestment of earnings
  2. The same schedule applies to monthly data related to direct investment and portfolio investment but not to the International Transactions in Securities statistics.

For a detailed schedule of data revisions for the BOP and regional BOP, see Revision Schedule [PDF 106KB]

Direct Investment by Region and Industry (flows and income) is compiled on a quarterly basis and released four months after the last month of the reference quarter. Moreover, in April of the following year, calendar year figures reflecting annually revised figures for the first through third quarters are released together with figures for the fourth quarter. In addition, annually revised figures for the calendar year are released in May of the following two years after the year of the first release. On both occasions, figures reflect the respective revisions of reinvested earnings made by the time of the release.

The International Transactions in Securities statistics are compiled based on daily reports from major financial institutions and are released on a weekly and monthly basis.

Table 2 shows the release schedule for the flow data. For the annual release schedule showing which data are released in which month, see Annual Release Schedule for the Flow Data [PDF 14KB].

Table 2: Release Schedule for the Flow Data

Table 2: Release Schedule for the Flow Data
Data Release Dates1 Reference Period
BOP, preliminary Monthly 2nd preceding month2
BOP, 2nd preliminary Jan., Apr., July, and Oct. Jan.: July-Sept. of the preceding year
Apr.: Oct.-Dec. of the preceding year
July: Jan.-Mar. of the current year
Oct.: Apr.-June of the current year
BOP, annually revised Apr. Jan. of the 3rd preceding year to Sept. of the preceding year3
BOP, revised for reinvested earnings Nov. May of the 2nd preceding year to Aug. of the current year4
Regional BOP Feb., May, Aug., and Nov. Feb.: 3rd quarter of the preceding year
May: 4th quarter of the preceding year
Aug.: 1st quarter of the current year
Nov.: 2nd quarter of the current year
Regional BOP, annually revised May 1st quarter of the 3rd preceding year to 3rd quarter of the preceding year3
Regional BOP, revised for reinvested earnings Nov. 2nd quarter of the 2nd preceding year to 1st quarter of the current year4
Direct Investment by Region and Industry (quarterly) Jan., Apr., July, and Oct. Jan.: 3rd quarter of the preceding year
Apr.: 4th quarter of the preceding year
July: 1st quarter of the current year
Oct.: 2nd quarter of the current year
Direct Investment by Region and Industry (annual) Apr. Preceding year5
Direct Investment by Region and Industry (annual), annually revised May 2nd and 3rd preceding years3
International Transactions in Securities (based on reports from designated major investors) Monthly6 Preceding month

Notes:

  1. Data are released on the sixth business day of the relevant month.
  2. For data released in April, figures of the reinvested earnings-related items for January of the current year are revised.
  3. For the reinvested earnings-related items, figures for January of the third preceding year onward are revised. For the other items, figures for January of the second preceding year onward are revised.
  4. Figures from May of the second preceding year through April of the preceding year are revised so that reinvested earnings are reflected in the period in which they were actually earned. Figures for April of the preceding year are carried forward for May onward. (While the figures are carried forward through to the release of data in October of the following year, they are revised in the annual revision in April of the following year.)
  5. Annually revised data for the first through third quarters of the preceding year are reflected.
  6. In addition, weekly figures are released.

Stock Data

Stock data are compiled for a calendar year end and released in late May of the following year.1 Annually revised figures are released in the year after next. Moreover, for the IIP and the external debt position, estimates reflecting flows as well as fluctuations in exchange rates and other market prices since the end of the previous quarter are released on a quarterly basis.2

Notes:

  1. Data are released immediately after the Minister of Finance's report to the Cabinet, which needs to be made by the end of May of the following year. However, data for the Regional Direct Investment Position (Inward Investment) (Ultimate Investor) are released in June of the following year.
  2. Preliminary estimates for the end of the preceding year released in March are estimates reflecting flows and fluctuations in exchange rates and other market prices over the four quarters since the end of the second preceding year.

Meanwhile, data for the External Assets and Liabilities of Banks, etc. for each end of the month are released two months after the reference month (the data are not subject to revision).

Table 3 shows the release schedule for the stock data. For the annual schedule showing which data are released in which month, see Annual Release Schedule for the Stock Data [PDF 12KB].

Table 3: Release Schedule for the Stock Data

Table 3: Release Schedule for the Stock Data
Data Release Dates1 Reference Dates
IIP (annual) May Dec. of the preceding year
IIP (annual), annually revised figures May Dec. of the 2nd preceding year
Regional Direct Investment Position (Inward Investment) (Ultimate Investor) June Dec. of the preceding year
Regional Direct Investment Position (Inward Investment) (Ultimate Investor), annually revised figures June Dec. of the 2nd preceding year
IIP (quarterly) and Gross External Debt Position, preliminary estimates Mar., June, Sept., and Dec. Mar.: Dec. of the preceding year
June: Mar. of the current year
Sept.: June of the current year
Dec.: Sept. of the current year
IIP (quarterly) and Gross External Debt Position, revised estimates Mar., June, Sept., and Dec. Mar.: Sept. of the preceding year
June: Dec. of the preceding year
Sept.: Mar. of the current year
Dec.: June of the current year
IIP (quarterly) and Gross External Debt Position, annually revised figures June Mar. of the 2nd preceding year to Sept. of the preceding year
External Assets and Liabilities of Banks, etc. Monthly 2nd preceding month
  1. Note: 1 Data for the IIP (annual), including annually revised figures, are released in late May. All other data are released on the sixth business day of the relevant month.

Components and Structure

Released Items

The components of Japan's BOP related statistics are based on the "standard components" in the BPM6. Moreover, various additions are made to facilitate analysis and research. For example, net values (balances) are provided for the major components, and some components are broken down into more detailed items. However, some standard components such as certain sectoral breakdowns are not disseminated mainly due to a lack of transactions or source data.

Flow Components

For the current account and the capital account of the BOP, the "credit," "debit," and "net balance" (i.e., "credit" minus "debit") is, in principle, provided for each component. In addition, seasonally adjusted data are available for major current account components.

For the financial account, "assets" show the net acquisition of financial assets (i.e., "acquisitions" minus "dispositions") in the period for each category/instrument, while "liabilities" show the net incurrence of liabilities. Moreover, for major components, the "net balance" -- that is, the "net acquisition of financial assets" minus the "net incurrence of liabilities" -- is shown. In addition, for some components, gross acquisitions (or executions/drawings depending on the type of instrument) and dispositions (or withdrawals/repayments) are provided.

Table 4 shows an overview of the components for which flow data are released. For a full list of components, including flow data "by partner economy" and "by region and industry," see Structure of Flow Statistics [XLSX 41KB].

Table 4: Overview of Flow Components for Which Data Are Released

  • This table shows the flow components for which data are released.
For sub-components of the current account -- that is, goods, services, primary income, and secondary income -- credit, debit, and net balance data including seasonally adjusted figures are provided. For the current account and goods and services, only net balances including seasonally adjusted figures are provided.
For the capital account, credit, debit, and net balance data are provided.
For the financial account and its sub-components -- that is, direct investment, portfolio investment, financial derivatives (other than reserves), other investment, and reserve assets -- asset, liability, and net balance data are provided. However, for reserve assets, liability and net balance data are not provided. For direct investment and portfolio investment, gross figures for assets and liabilities are provided.
In addition, net errors and omissions are provided.

Stock Components

For the IIP, figures for "assets" and "liabilities" are, in principle, provided for components classified following the same principles as the financial account of the BOP. Figures for "net assets" -- that is, "total assets" minus "total liabilities" -- are also provided.

Table 5 shows an overview of the components for which stock data are released. For a full list of components, including stock data "by partner economy" and "by region and industry," see Structure of Stock Statistics [XLSX 32KB].

Table 5: Overview of Stock Components for Which Data Are Released

  • This table shows the stock components for which data are released.
Figures for both assets and liabilities are provided for direct investment, portfolio investment, financial derivatives (other than reserves), and other investment. For reserve assets, figures are provided only for assets. Figures for the totals of these assets and liabilities are also provided. Figures for net assets are provided only for the total.

Breakdown by Partner Economy

In principle, data by partner economy are provided for regions and 33 major economies (except for portfolio investment flows, for which data for 45 economies are provided). However, the Direct Investment Flows by Region and Industry and Regional Direct Investment Position and Regional Portfolio Investment Position (Assets) (All Regions) statistics show figures for all economies for which data are available.

The regional classification consists of Asia, North America, Central and South America, Oceania, Europe, Middle East, Africa, Rest of the World, International Organization, and unallocated. Data for the following country groups are also provided: OECD countries, ASEAN, EU, and "Eastern Europe, Russia, etc." For details, see the Regional Classification and List of Partner Economies [PDF 29KB] and List of Member Countries (OECD, ASEAN, and EU) [PDF 37KB].

Notices of Changes and Corrections

Notices of Changes

May  25, 2021
International Investment Position of Japan (Calendar Year Data) (End of 2020; End of 2019, Annually Revised Figures) 
May  13, 2021
Revision of Seasonally Adjusted Balance of Payments Data (Based on Figures Annually Revised in 2021) 
Mar.  8, 2021
Revision of Seasonally Adjusted Balance of Payments Data (Based on Preliminary Figures for 2020) 
Oct.  8, 2020
Changes in the Compilation and Dissemination of the Balance of Payments Statistics in Response to the "Basic Policy for the Fundamental Reform of Economic Statistics" 
Jun.  8, 2020
Addition of a New Item to the "Regional Direct Investment Position (Inward Investment) (Ultimate Investor)" in the BOJ Time-Series Data Search 
May  26, 2020
International Investment Position of Japan (Calendar Year Data) (End of 2019; End of 2018, Annually Revised Figures) 
May  24, 2019
International Investment Position of Japan (Calendar Year Data) (End of 2018; End of 2017, Annually Revised Figures) 
Oct.  9, 2018
Recording of Travel Expenditure of Foreign Cruise Travelers in Travel in Japan's Balance of Payments Statistics 
Jul.  9, 2018
Release of the "Regional Direct Investment Position (Inward Investment) (Ultimate Investor)" in the BOJ Time-Series Data Search 
Jun.  8, 2018
Planned Release of the "Regional Direct Investment Position (Inward Investment) (Ultimate Investor)" in the BOJ Time-Series Data Search 
May  25, 2018
International Investment Position of Japan (Calendar Year Data) (End of 2017; End of 2016, Annually Revised Figures) 
May  25, 2018
Addition of a New Item to the Portfolio Investment Position by Currency and Type of Securities in the International Investment Position 
Apr.  9, 2018
Planned Addition of a New Item to the Portfolio Investment Position by Currency and Type of Securities in the International Investment Position 
Jan. 12, 2018
Release of Values Presented in Smaller Units of Measurement for Balance of Payments Related Statistics 
Nov.  9, 2017
Planned Release of Values Presented in Smaller Units of Measurement for Balance of Payments Related Statistics 
May  26, 2017
International Investment Position of Japan (Calendar Year Data) (End of 2016; End of 2015, Annually Revised Figures) 
May  26, 2017
Expansion of Balance of Payments Related Data Available in the BOJ Time-Series Data Search 
Apr. 10, 2017
Expansion of Balance of Payments Related Data Available in the BOJ Time-Series Data Search 
Apr.  8, 2016
Revision of Historical Data Rearranged Based on the BPM6 
May  22, 2015
Release of the International Investment Position of Japan and Related Statistics 
Apr.  8, 2015
Release of Annually Revised Figures for Balance of Payments Related Statistics 
Mar.  9, 2015
Annual Revision of Balance of Payments Related Statistics in Japan 
Apr.  8, 2014
Release of the Historical Balance of Payments and International Investment Position Data Rearranged Based on BPM6 
Oct.  8, 2013
Revision of Balance of Payments Related Statistics in Japan 

Notices of Corrections

Jun. 11, 2021
Revision of Figures for the "International Investment Position of Japan (Calendar Year Data)" 
Jun. 10, 2019
Revision of Figures for the "International Investment Position of Japan (Quarterly Data)" and "Gross External Debt Position of Japan" 
May  24, 2019
Revision of Figures for the "International Investment Position of Japan (Calendar Year Data)" 
May  26, 2017
Revision of Figures for "Direct Investment by Region and Industry (Direct Investment Position)" 
May  14, 2015
Correction of Figures for "Balance of Payments" 
Dec. 26, 2014
Correction of Figures for "Balance of Payments" 
Mar. 11, 2014
Correction of Figures for "External Assets and Liabilities of Banks, etc." 

Inquiries

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

E-mail : boj-bop@boj.or.jp