08 Mar '11, 2am

Japan's current account surplus falls 47.6% in January

Japan's current account surplus falls 47.6% in January

TOKYO: Japan's current account surplus shrank 47.6 per cent from a year earlier in January as the trade balance fell into its first deficit in two years, the finance ministry said on Tuesday. While the fall in the current account surplus was expected, some economists noted concerns over rising crude oil prices and the longer-term impact that this could have on the current account balance by pushing up import costs. The surplus in the current account - the broadest measure of trade with the rest of the world - stood at 461.9 billion yen ($5.6 billion dollars) in the month. The result compared with a median forecast of a 43.3 per cent fall in the surplus to 500 billion yen in a survey of economists by Dow Jones Newswires and the Nikkei. In December the surplus was up 30.5 per cent at 1.195 trillion yen. Exports in January rose a modest 2.9 percent because of weak demand in A...

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

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