Japan's Current Account Surplus Declines 13 Pct in Oct.
Tokyo, Dec. 9 (Jiji Press)--Japan's current account surplus in October declined 13.0 pct from a year earlier to 2,456.9 billion yen partly because the services trade balance slipped into the red, a preliminary Finance Ministry report showed Monday.
The current account balance, the broadest measure of a country's international trade and investment flows, was in the black for 21 consecutive months.
The services trade deficit stood at 159 billion yen, against a surplus of 449.4 billion yen a year before, as net intellectual property fee revenue shrank after the chemical and pharmaceutical sector received massive royalties in October 2023.
Meanwhile, the travel balance logged the largest October surplus of 508.7 billion yen, thanks to an increase in inbound visitors.
The country's trade deficit decreased to 155.7 billion yen from the year-before level of 487.4 billion yen.
(2024/12/09-14:02)
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