Tokyo, Oct. 8 (Jiji Press)–Japan posted a higher current account surplus for August than a year before, driven by higher dividend income from companies’ overseas units, the Finance Ministry said in a preliminary report Thursday. The surplus in the current account, the broadest indicator of a country’s international trade and investment flows, expanded to 4,062 billion yen from 3,628.1 billion yen in the same month last year. Japan posted a current account surplus for the 19th consecutive month. Higher dividend receipts sent the surplus in the primary income account jumping 21.6 pct year on year to 5,133.2 billion yen, the largest since comparable data became available in 1985. In goods trade, Japan recorded a deficit of 687.7 billion yen, compared with a surplus of 113.8 billion yen a year earlier. Exports rose 16.9 pct to 9,862.3 billion yen, supported by strong shipments of automobiles and semiconductor-related equipment. Imports increased 26.7 pct to 10.55 trillion yen, largely because of increased crude oil purchases from the United States due to the war in the Middle East. In services trade, Japan’s deficit narrowed to 115.8 billion yen from 266.7 billion yen as pharmaceutical companies and automakers received more licensing fees. END [Copyright The Jiji Press, Ltd.]
