08 Feb '11, 1am

Japan's surplus logs first rise in 3 years

TOKYO: Japan's current account surplus expanded 28.5 per cent in 2010, the first rise in three years, the finance ministry said Tuesday. The surplus in the current account - the broadest measure of trade with the rest of the world - stood at 17.08 trillion yen (US$207.53 billion) in the year. Exports in 2010 rose 25.7 per cent thanks to brisk demand in Asia, namely China, for automobiles, autoparts and steel, the ministry said. Imports also expanded 19.4 per cent as Japan bought crude oil, liquefied natural gas and non-ferrous metal from Asia and the Middle East, it said. The ministry said the current account surplus in December grew 30.5 per cent from a year earlier to 1.2 trillion yen, which was in line with market expectations. Having locked in a trend of weak exports due to a stronger yen, which makes Japanese products more expensive in overseas markets, the Japanese e...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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