Japan's current account surplus rises by 76.9% in November

09:48, January 12, 2010      

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Japan's current account surplus rose by 76.9 percent year on year to 1.103 trillion yen (12 billion dollars) in November, according to statistics released on Tuesday by the Ministry of Finance.

The surplus in the current account is the broadest measure of Japan's trade with the rest of the world, and was down from 1.3976trillion yen (15 billion dollars) in October.

The balance of trade in goods and services stood at 439.5 billion yen (4.8 billion dollars), down from 618.3 billion yen (6.7 billion dollars) in October.

Exports posted a year-on-year decrease of 7 percent, and stood at 4.704 trillion yen (51 billion dollars). The year-on-year decrease was much smaller than October's, when exports posted a 24.6 percent fall.

Imports also fell by 18.2 percent year on year and stood at 4.214 trillion yen (46 billion dollars) in November. Imports were up compared to October, however, when they stood at 4.017 trillion yen (43.5 billion dollars) after falling year on year by 37.7 percent.

Income from overseas securities held by Japanese stood at 732.8 billion yen (8 billion dollars), down from 845.3 billion yen (9.2 billion dollars) for the same month last year.

Japan's current account surplus fell into a deficit in January last year, causing alarm amid a dour economy. Since then, however, things have picked up for Japan as a tentative recovery led by the manufacturing sector has been kept in place by fiscal stimulus measure implemented by the government and the Bank of Japan (BOJ).

Source: Xinhua
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