Japan Swings to Current Account Surplus in January

Tokyo, March 9 (Jiji Press)–Japan swung into 941.6 billion yen in current account surplus in January from a deficit of 344.6 billion yen a year before thanks to strong exports, preliminary data released by the Finance Ministry on Monday showed. The country posted a surplus in the current account, the broadest measure of overseas trade and investment flows, for the 12th straight month. The deficit in goods trade narrowed to 600.4 billion yen from 2,934 billion yen a year earlier. Exports rose 20.3 pct to 9,044.5 billion yen, lifted by higher shipments to China ahead of the Chinese Lunar New Year holidays. Exports of semiconductors and nonferrous metals grew. Imports fell 7.7 pct to 9,644.8 billion yen. The surplus in the primary income balance shrank 22.2 pct to 2,746.6 billion yen as automakers received less dividends from overseas units. The deficit in services trade expanded to 715.3 billion yen from 498.8 billion yen as drugmakers paid more for research and development services. END [Copyright The Jiji Press, Ltd.]