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Japan's January current account surplus improves

Posted by Junichi Kawagoe on 09.2010 News Out of English Newspaper   0 comments   0 trackback
Japan's current account surplus for January rose sharply compared with a deficit from a year earlier, due to an increase of exports to China.

The Finance Ministry released a preliminary report on the nation's balance of international payments on Monday.

It says the current account surplus totaled 889.8 billion yen, or about 9.9 billion dollars. The figure marked a big improvement from the same month a year earlier, when the current account marked a deficit of about 1.4 billion dollars.

The current account surplus showed an improvement of 5 consecutive months until December last year.

The ministry says the trade balance marked nearly 2.2 billion dollars in surplus. This figure is attributed to 40 percent increase of exports of electronic parts to China and cars to the United States.

The report says the trade balance increase in terms of value from the same month in the previous year posted about 11.1 billion dollars, the largest figure on record since 1986.

Meanwhile, balance of income, or returns and dividend from overseas investments, marked a surplus of about 10.1 billion dollars. The figure is a decline of 8.1 percent from a year earlier, due to lowered interest rates.

The Finance Ministry says the improvement trends centering on China are expected to continue, but it is closely watching the degree of recovery in balance of income for the future.

2010/03/08 15:54(JST)
(JST: UTC+9hrs.)

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