Japan logs 1.86-trln-yen current account surplus in May

TOKYO, July 10 (Xinhua) -- Japan posted a current account surplus of 1.86 trillion yen (13 billion U.S. dollars) in May, up 2.4-fold from a year earlier, government data showed Monday.

The current account surplus, in the fourth straight month of gains, came as the country's trade deficit narrowed and overseas investment returns expanded, according to the Finance Ministry.

In goods trade, the country's deficit shrank 38.8 percent to 1.19 trillion yen, it said.

In May, exports fell 2.8 percent to 7.24 trillion yen, down for the first time in 27 months, amid concern about slowing global economic growth, while imports saw a larger 10.2 percent drop to 8.43 trillion yen, down for the second straight month, due chiefly to a sharp drop in energy imports, data showed.

The primary income surplus hit 3.63 trillion yen, the largest-ever recorded for May, as rising overseas yields boosted interest earnings, according to the ministry. (1 yen equals 0.007 U.S. dollar)