Doha: Japan posted a current account surplus of 29.26 trillion yen ($193 billion) in 2024, a record high, driven by its highest-ever returns on foreign investments amid a weak yen and a decline in the trade deficit.

According to Qatar News Agency, the surplus in the current account balance, one of the widest gauges of international trade, grew 29.5 percent from a year earlier. This marks the second consecutive year of growth and the highest surplus since comparable data became available in 1985, as reported by Japan's Finance Ministry.

Primary income, which reflects how much Japan earned from overseas investments, climbed 11.3 percent from the year before to 40.21 trillion yen. The increase was supported by higher returns from offshore subsidiaries in the financial, retail, and auto sectors, according to the ministry's preliminary report.

Japan's primary income has been bolstered by returns from foreign direct investments by domestic companies and overseas dividend income. The yen's depreciation has inflated the value of these returns, contributing to the record surplus.

In December alone, the country logged a 1.08 trillion yen current account surplus, which was an increase of 17.8 percent from the previous year.

The currency averaged 151.48 against the US dollar in 2024, which was 7.8 percent weaker than a year before.