Nov current account surplus at 1.8 trillion yen
Primary income surplus at 3.7 trillion yen

TOKYO, Jan 12 Reuters Japan39;s current account surplus logged a surprising surge to mark a record for November, as weakness in the yen drove income gains from portfolio investment and direct investment overseas to their highest level for the month.

The surplus came in at 1.8 trillion yen 13.7 billion, more than three times the median forecast of economists in a Reuters poll, also helped by an easing in the trade deficit.

The impact of the weak yen boosting import bills has run its course, curbing trade deficits, while the currency39;s weakness helped push up yendenominated income gains, said Kenta Maruyama, analyst at Mitsubishi UFJ Research and Consulting.

November39;s data marked the first yearonyear growth in the current account surplus since March 2022.

The country39;s current account surplus has long been regarded as a sign of export might and a source of confidence in the safehaven yen, but the account has occasionally fallen into deficit on a monthly basis in recent years.

The primary income surplus, which includes interest payments and dividends from investments overseas, hit 3.7 trillion yen. It was the largest amount for the month since comparable data became available in 1985, with the previous record being 2.4 trillion yen in November 2021.

The trade deficit was 1.5 trillion yen, narrowing from the previous month39;s 1.9 trillion yen.

SMBC Nikko Securities…