Tokyo, Nov. 10 (Jiji Press)–Japan’s current account surplus narrowed in April-September from a year before because of a goods trade deficit, but still marking the second-highest level for any fiscal first-half period, the Finance Ministry said Tuesday. The surplus in the current account, the broadest measure of a country’s international trade and investment flows, shrank to 17,148.2 billion yen from a record high of 17,217.9 billion yen a year before. In goods trade, Japan logged a deficit of 1,069.7 billion yen, compared with a surplus of 142.1 billion yen a year earlier, due to increased imports of semiconductor components and surging crude oil prices because of the war in the Middle East. The surplus in the primary income account fell 2.5 pct year-on-year to 21,534.3 billion yen because of lower dividend income from foreign companies. In services trade, the country’s deficit narrowed by 627.2 billion yen from a year before to 1,420.3 billion yen thanks to 3,253 billion yen in travel service surplus amid increased spending by inbound visitors as well as higher royalty receipts related to intellectual property rights. In September alone, the country recorded a current account surplus for the third consecutive month, though the surplus narrowed to 2,372.3 billion yen from 4,375.8 billion yen a year before. The primary income account surplus dropped 27.1 pct from a year earlier to 3,553.5 billion yen as dividend income from overseas companies shrank. END [Copyright The Jiji Press, Ltd.]
