Central Banking

Japan's Balance of Payments for 2001

I. Summary

A. Overall Trends

In the balance of payments for 2001, the current account surplus registered 11.1 trillion yen, a decline from the surplus of 12.6 trillion yen in 2000. The capital and financial account recorded a net outflow of 7.0 trillion yen, down from a net outflow of 9.1 trillion yen in 2000, a fall primarily reflecting movements in the financial account. The year-on-year growth in reserve assets was 4.9 trillion yen, down from the 5.3 trillion yen in 2000.

B. Major Developments

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