September 1, 2017 / 5:11 AM / in 10 months

Japan seen posting 37th straight current account surplus in July

TOKYO (Reuters) - Japan was seen likely to post a 37th consecutive monthly current account surplus in July, a Reuters poll found on Friday, reflecting an expected rise in income from overseas investments.

A Japan Yen note is seen in this illustration photo taken June 1, 2017. REUTERS/Thomas White/Illustration

The poll of 19 analysts forecast a current account surplus of around 2 trillion Japanese yen ($18 billion) in July from 935 billion yen in June.

“Although the trade surplus likely shrank, a softer yen from a year earlier likely inflated income from overseas investment,” an analyst at Shinkin Central Bank said in the survey.

Takeshi Minami, chief economist at Norinchukin Research Institute, says Japan will likely maintain a current account surplus this year because of more upbeat economic conditions overseas.

“Interest rates and stock prices overseas are higher than those of Japan, so interest revenue and investment income are expected to rise.”

The finance ministry will announce the data at 8:50 a.m. Japan time on Friday (2350 GMT Thursday).

Japan’s trade and current account surpluses have been criticized by U.S. President Donald Trump in his “America First” campaigning.

Japan’s exports rose for an eighth straight month in July on robust shipments to the United States and a boost from a weak yen.

($1 = 110 yen)

Reporting by Kaori Kaneko; Editing by Eric Meijer

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