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Japan FY 2025 current account surplus hits record high for 3rd year in row

TOKYO: Japan’s current account surplus in the year through March hit a new high for the third year in a row at 34.52 trillion yen ($219 billion), as goods trade returned to the black for the first time in five years on strong chip exports, government data showed Wednesday.

The surplus rose 15.0 percent from a year earlier, also buoyed by increases in returns on foreign investments amid the weak yen. Primary income, which reflects how much Japan earned from overseas investments, climbed 2.1 percent to 42.28 trillion yen.

The goods trade balance registered a surplus of 1.36 trillion yen compared to a deficit of 3.03 trillion yen the previous year, the Finance Ministry said in a preliminary report.

Robust demand from Taiwan and other parts of Asia for Japanese electronic devices including semiconductors drove exports up 3.3 percent to 111.35 trillion yen.

Imports decreased 0.8 percent to 109.98 trillion yen as lower prices of crude oil pushed down overall shipments to Japan by value, with the impact of the Middle East conflict launched by U.S.-Israeli attacks on Iran on Feb. 28 not yet seen.

The weaker yen against the euro helped inflate dividends and interest earnings from overseas investments, with the yen falling 6.8 percent from a year earlier on average to 174.78 for fiscal 2025. The Japanese unit, meanwhile, traded 150.72 against the U.S. dollar on average in the same year, edging up 1.2 percent.

For the reported fiscal year, oil prices logged $71.41 per barrel, down 13.3 percent from the year before, the ministry said.

Services trade logged a deficit of 3.88 trillion yen, expanding red ink by 741.2 billion yen from the previous year, on rises in payouts for research and development purposes overseas.

The travel surplus shrank to 6.57 trillion yen from 6.60 trillion yen a year earlier, as the growth in foreign visitors to Japan was offset partly by more Japanese travelers going abroad, according to the ministry.

A surplus in the travel balance means spending in Japan by foreign visitors exceeded the amount spent overseas by Japanese.

In March alone, the country logged a 4.68 trillion yen current account surplus, gaining 29.1 percent from the year before, supported by increases in returns from overseas subsidiaries amid the weak yen.

A ministry official said it is difficult to estimate how much the Middle East situation affected the current account balance for March, as the conflict has hit both imports from and exports to the region by around 10 percent on year, citing separate trade data.

Inbound visitors from the Middle East decreased, but other factors, such as more travelers departing Japan, may have also influenced the overall travel balance, the official said.

The current account balance is one of the widest gauges of international trade.

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Pakistani Students’ UK Visa Delays Raised by Azam Nazeer Tarar with British High Commissioner

Azam Nazeer Tarar with UK High Commissioner

ISLAMABAD: British High Commissioner Jane Marriott called on Federal Minister for Law & Justice Senator Azam Nazeer Tarar. The meeting discussed Pakistan-UK bilateral relations, matters of mutual interest and ways to further strengthen cooperation between the two countries.

During the meeting, the Federal Minister raised the issue of delays in UK visas for Pakistani students and conveyed the Government of Pakistan’s concern to the British High Commissioner.

Senator Azam Nazeer Tarar said that hundreds of Pakistani students were facing difficulties due to delays in visa processing, with a risk that the delays could result in the loss of their academic year. He stressed the need to remove obstacles faced by Pakistani students seeking education abroad and facilitate them in this regard.

The Federal Minister briefed the British High Commissioner that, on the directives of the Prime Minister, a committee under his chairmanship was working to improve the legal and institutional framework concerning Pakistani students studying abroad.

He further informed the High Commissioner that, on the Prime Minister’s directives, the committee had finalized its recommendations on the matter, and work was underway to further improve the legal and institutional framework for Pakistani students pursuing education abroad.

The Federal Minister said that the legal and institutional framework for Pakistani students seeking education abroad was being improved to develop an effective mechanism for addressing the issues faced by students.

British High Commissioner Jane Marriott assured the Federal Minister that the issue of delays in visas for Pakistani students would be addressed.

The meeting also discussed further strengthening educational linkages between Pakistan and the United Kingdom, as well as enhancing institutional cooperation and engagement between the two countries.

Minister of State for Law, Justice and Human Rights Barrister Aqeel Malik was also present during the meeting.

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Naqvi Sets September 30 Deadline for Completion of Islamabad Safe City Expansion

ISLAMABAD: Interior Minister Mohsin Naqvi, accompanied by Minister of State for Interior Talal Chaudhry, visited the Islamabad Safe City Headquarters on Friday and chaired a special meeting to review progress on the Safe City Expansion Project, directing officials to complete the ambitious initiative by September 30.

During the briefing, officials informed the minister that overall work on the expansion project has reached 85 percent completion. Installation of the new surveillance network is also 85 percent complete, while 415 kilometres of optical fibre have been laid to support the upgraded system. Work on the data centre, cyber architecture, and cybersecurity infrastructure has also reached approximately 80 percent completion.

Expressing satisfaction over the pace of work, Naqvi stressed that the remaining tasks must be completed within the stipulated timeframe.

He said the government’s vision is to transform the Islamabad Safe City into a modern, smart, and world-class institution comparable to those in developed countries.

The interior minister said the technologically advanced Safe City system would significantly strengthen public safety through enhanced surveillance, effective monitoring, and rapid emergency response capabilities.

He noted that the project would play a vital role in improving law enforcement efficiency and ensuring better security for residents of the federal capital.

Naqvi also assigned officials the task of completing the state-of-the-art Fusion Centre within the next three months, describing it as a critical component of the upgraded Safe City network.

He further directed the relevant authorities to finalise the Safe City Bill at the earliest and present it before the National Assembly without delay to provide the legal framework necessary for the project’s long-term operation and expansion.

The meeting was attended by the Federal Secretary for Interior, the Director General of the Federal Investigation Agency (FIA), senior Safe City officials, and other relevant officers, who briefed the minister on the progress and future roadmap of the expansion project.

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PM Shehbaz, high-level delegation perform Umrah; pray for country’s progress

MAKKAH AL-MUKARRAMAH: Prime Minister Muhammad Shehbaz Sharif, along with his high-level delegation, performed Umrah here on Friday.

He was accompanied by his delegation including Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Chief of Army Staff and Chief of Defence Forces Field Marshal Syed Asim Munir, federal ministers Khawaja Muhammad Asif and Attaullah Tarar, and Special Assistant to PM Tariq Fatemi.

The door of Khana Kaaba was opened specially for the prime minister and his delegation.

Following the completion of the Umrah rituals, the prime minister, field marshal, and other members of the Pakistani delegation offered special prayers for the progress and prosperity of the country, the safety and unity of the Muslim Ummah, and for regional and global peace.

The prime minister arrived in Jeddah on Thursday evening for a three-day visit to Saudi Arabia at the invitation of Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud.

Besides meeting with his Saudi counterpart, he will also pay a visit to the Roze-e-Rasool (PBUH) in Madinah.