Japan's current account in black for 12th straight month in January

11:34, March 08, 2010      

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Japan posted a current account surplus of 899.8 billion yen (9.9 billion U.S. dollars) in January, the Ministry of Finance (MOF) said in a preliminary report on Monday.

January's figures, which mark the 12th consecutive month the current account has stayed in the black, compare to a record deficit of 132.7 billion yen (1.46 billion U.S. dollars) posted the same month a year earlier, the ministry said.

The MOF indicated the significance of overseas shipments with on year exports climbing 40.6 percent. In addition imports rose by 7.1 percent in January from a year earlier.

According to economists, increased exports will lead to more capital expenditure which will further support the rebound and help buoy the world's second largest economy, which has shown signs of sustained expansion in the first quarter with factory output rising at the fastest pace since May and unemployment dropping to a 10-month low in January.

The current account balance tracks the flow of goods, services and investment income between Japan and its trading partners and provides and extensive measurement of trade.

Source:Xinhua
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