The data showed Japan's current account surplus stood at 438.2 billion yen ($2.96 billion) in January, compared with economists' median forecast for a deficit of 330.4 billion yen in a Reuters poll.

It followed 744.3 billion yen of surplus in December.

A breakdown of the data showed exports grew 7.6% year-on-year in January driven by demand for cars, car parts and chip-making equipment while imports fell 12.1% reflecting declines of coal, liquefied natural gas and communications equipment.

Primary income gains, or returns from past direct investment and portfolio investment overseas, saw Japan log a primary income surplus of 2.8516 trillion yen.

In addition, the current account data showed a record gain in travel account due to a boost from inbound tourism.

($1 = 148.0500 yen)

(Reporting by Tetsushi Kajimoto; Editing by Sam Holmes)

By Tetsushi Kajimoto