08 Sep '11, 12am

Japan's current account surplus down 42.4% in July on-year

TOKYO: Japan's current account surplus shrank by 42.4 percent from a year earlier in July, government data showed Thursday, in the fifth consecutive decline in the wake of the March 11 earthquake and tsunami. The narrowing of the surplus came as exports shrank but imports surged, the data showed. The surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at 990 billion yen ($12.8 billion) in July before seasonal adjustment, finance ministry data showed. The result was worse than expectations of a 31.8 percent on-year fall in the surplus to 1.172 trillion yen according to a survey of economists by Dow Jones Newswires and the Nikkei. Imports jumped 13.6 percent, partly due to higher oil prices amid Japan's increased need for fossil fuels to compensate for the shutdown of most of its reactors after the Fukushima nuclear acciden...

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

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current obsession: Native Americana

current obsession: Native Americana

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