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Japan's November current account surplus down 65.9 per cent

Business Materials 13 January 2009 08:00 (UTC +04:00)

Japan's current account surplus narrowed by 65.9 per cent in November to 581.2 billion yen (6.47 billion dollars), compared to the same month a year before, as goods trade fell due to a slowdown in exports, the Finance Ministry said Tuesday, dpa reported.

The balance of goods and services trade reported a deficit of 184.2 billion yen in November.

Japan reported a deficit of 93.4 billion yen in goods trade, down from a surplus of 907.6 billion yen a year before. Exports fell 26.5 per cent to 5.06 trillion yen.

Imports shrank 13.7 per cent to 5.16 trillion yen.

In services trade, Japan saw a deficit of 90.8 billion yen, down 20.4 per cent, as Japanese travelers spent less overseas.

The income surplus dropped 15.5 per cent from a year before to 844.7 billion yen.

The current account balance shows the difference between a country's income from foreign sources and foreign obligations payable, excluding net capital investment. dpa cm jh

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