Japan's May current account surplus down 5.9 per cent

Business Materials 10 July 2008 08:20 (UTC +04:00)

( dpa ) - Japan's current account surplus in May fell 5.9 per cent to 2 trillion yen (18.64 billion dollars) from a year earlier, the Finance Ministry said Thursday.

The nation's goods and services trade surplus rose 20.8 per cent to 506.6 billion yen, the ministry said in a preliminary report.

In goods trade, Japan's surplus grew 6.3 per cent to 529.4 billion as growth in exports outpaced rise in imports.

Exports rose 4.2 per cent to 6.5 trillion yen, and imports were also up 4 per cent to 5.98 trillion yen.

Services trade recorded a deficit of 22.8 billion yen in May, down 71 per cent from a year earlier.

The income account surplus fell 12.6 per cent to 1.57 trillion yen.

The current account balance, which is the broadest gauge of trade, shows the difference between a nation's income from foreign sources and foreign obligations payable, excluding net capital investment.