Impact of currency manipulation on Japan's nonfinancial current account balance, 2005–2015
| As a share of GDP | Billions of dollars | |
|---|---|---|
| 2005 | 1.3% | $59 |
| 2006 | 1.3% | 58 |
| 2007 | 1.5% | 65 |
| 2008 | 1.6% | 80 |
| 2009 | 1.6% | 80 |
| 2010 | 1.6% | 85 |
| 2011 | 1.5% | 89 |
| 2012 | 1.7% | 100 |
| 2013 | 1.7% | 83 |
| 2014 | 2.2% | 103 |
| 2015 | 2.5% | 121 |
Note: Values for 2014 and 2015 are projected from lagged values of Japan's stock of foreign exchange reserves and foreign holdings of the GPIF.
Source: Author's analysis of International Monetary Fund (2015) and Bayoumi, Gagnon, and Saborowski (2014)