Japan’s current account surplus hits pre subprime mortgage crisis
The results for the April-March period reflect how the Japanese economy is on a steady recovery track thanks to strong external demand.
Japan’s current account surplus for fiscal 2016 soared to pre-Lehman shock levels, backed by steady exports to Asia and a fall in crude oil prices.
The results for the April-March period reflect how the Japanese economy is on a steady recovery track thanks to strong external demand.
The surge in the number of foreign tourists to Japan, however, saw the travel balance post a largest-ever 1.28 trillion yen surplus.
The number of visitors to the country grew around 20% in fiscal 2016 compared to the year before.
The figure shows the amount of money foreign tourists spent in Japan eclipsed what Japanese spent abroad.
Finance ministry data showed Thursday that Japan logged a current account surplus of 20.2 trillion yen ($176.9 billion) in the year ended March 31, a 13.1% increase from the previous year and the highest since 2007.
The figure was the third largest ever, and marked the third straight year of growth.
The surplus, which was at around 18 trillion yen in fiscal 2010, sank following the 2011 earthquake and tsunami, falling to around 2 trillion yen in fiscal 2013 as imports of fossil fuels shot up after the suspension of the country’s nuclear power plants.
Source: Japan 2016 current account surplus hits pre-Lehman levels- Nikkei Asian Review
Economics
Thailand extends the 7,000 baht “Rao Chana” scheme to 33.5 million Thais
The Ministry of Finance said that the new proposal will increase the number of people eligible for the “Rao Chana” relief package to 33.5 million while raising the budget to 3 billion baht.
The Ministry of Finance, said today that the new proposal will increase the number of people eligible for the “Rao Chana” relief package to 33.5 million while raising the budget to 3 billion baht.
Lifestyle
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major drops in the rankings. Bangkok has fallen 19 places to 49th, while Hanoi saw a similar drop of 12 places to 81st.
The decline of Bangkok reflects the severe impact of the Covid-19 pandemic on the rental market in the tourism-reliant Thai economy, according to ECA’s latest survey.
Economics
Thai fruit exports to FTA markets up 107 percent
China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.
BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.
Thailand extends the 7,000 baht “Rao Chana” scheme to 33.5 million Thais
The Ministry of Finance said that the new proposal will increase the number of people eligible for the “Rao Chana”...
Bangkok falls 19 places to 49th most expensive location worldwide
Locations reliant on international tourism have seen their rental markets hit especially hard during the pandemic, resulting in some major...
Thai fruit exports to FTA markets up 107 percent
China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian,...
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