Japan's current account surplus drops 69.5 pct in April

10:48, June 08, 2011      

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Japan's current account surplus fell 69.5 percent in April from a year earlier, data from the Ministry of Finance showed Wednesday.

According to the ministry, the surplus plummeted to 405.6 billion yen (5.07 billion U.S. dollars), from 1.33 trillion yen a year earlier, as exports were severely hampered by falling factory output following the March 11 twin disasters.

The drop in April however was less than median economists' forecasts for an 84.3 percent drop following March's 34.3 percent decline, as disrupted supply chains started to recover faster than expected, economists said.

The balance of trade in goods and services came in at 838.8 billion yen in deficit in the recording period, according to the official governmental figures.

Economists predict a downward trend for Japan's current account surplus in the near future as exports continue to be pressured by manufacturing output levels and imports of construction materials and natural resources expand as construction efforts widen.

Source: Xinhua
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