While the number of tourists to Japan has drastically fallen due to COVID-19 this year, Japan’s balance of payments with foreign nations in the service trade sector went into the black for the first time in 2019. Japan’s revenue from things such as inbound travel and royalties on patents increased. Revenue from imports and exports of goods remained in the black, but was less than half of the previous year’s figure. However, the total balance of payments was 20.0597 trillion yen in the black, which was a little over the previous year’s. In 2018’s global balance of payments ranking, Japan had the second highest figures in the black after Germany.
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