The Japanese current account balance jumped from ¥2,457.0 billion in November to ¥3,352.5 billion in December which is a sharp 54.5% YoY increase and above expectations of an increase to ¥2,691.0 billion. The goods balance flipped from a -¥155.7 billion deficit to a surplus of ¥97.9 billion as exports grew 2.8% YoY and imports fell -5.7% YoY. The balance of services also flipped from -¥159.0 billion to ¥258.6 billion. Both primary income and secondary income contributed to the growth of the surplus as well.

Japan also saw a jump in foreign direct investment and a smaller portfolio investment deficit that helped the financial accounts to grow from ¥1,896.5 billion in November to ¥2,705.1 in December.