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Japan Logs Largest April Current Account Surplus

Japan Logs Largest April Current Account Surplus

   Tokyo, June 10 (Jiji Press)--Japan posted 2,050.5 billion yen in current account surplus in April, up 8.2 pct year on year and the largest for the month since comparable statistics became available in 1985, Finance Ministry data showed Monday.
   The result reflected a surge in the surplus at the primary income account, which covers dividend and interest receipts from abroad, according to the preliminary balance of payments data. The country logged a current account surplus for the 15th straight month.
   The April surplus exceeded the median forecast of 1,737.6 billion yen in surplus in a Jiji Press poll of 17 economic research institutes.
   In goods trade, Japan's deficit expanded to 661.5 billion yen from the year-before level of 149.2 billion yen. Exports increased 2.4 pct to 8,428.2 billion yen thanks to growth in shipments of automobiles and semiconductor-manufacturing equipment. Imports were up 8.5 pct at 9,089.7 billion yen due in part to a rise in crude oil prices.
   The surplus at the primary income account soared 26.7 pct to 3,832.8 billion yen, the largest for April, thanks to rises in interest income on foreign bonds amid higher interest rates and in the yen value of dividends paid in foreign currencies because of the depreciation of the Japanese currency.

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AFP-JIJI PRESS NEWS JOURNAL


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