Those transactions appear in the balance of payments as improvements in the balances for income and services, respectively. Bolstered by increasing interest earnings on bonds, the income surplus currently exceeds the trade surplus and makes up over half of the current account surplus (now around 5 percent of GDP).
As such, I would like to stress that the relationship between Japan and the rest of the world, especially Asian countries, has outgrown that of mere export competitors and has developed into a mutually constructive relationship operating through a network of supply chain management and direct investment. I have discussed three issues facing Japan's economy. Those are the issues that cannot easily be resolved.