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Japan records 4th straight month of current account surplus

July 7, 2013 at 10:41 PM   |   Comments

TOKYO, July 7 (UPI) -- Japan recorded a current account surplus of 540.7 billion yen ($5.32 billion) in May, its fourth straight month in the black, the government said Monday.

The May surplus was up 58.1 percent from the same month of last year. In April, the surplus was up 100.8 percent year-on-year.

Current account is the broadest measure of Japan's trade with other nations and includes income from its foreign investments.

In its preliminary report, Japan's Finance Ministry said growth in direct investment income, or the country's earnings from its investments overseas, more than offset the trade deficit brought on by an increase in fossil fuel imports, Kyodo News reported.

The income account, spurred by higher dividends and profits from securities, recorded a surplus of 1,522.8 billion yen ($15.02 billion), up 8.6 percent year-on-year.

Japan's exports also have been rising due to a declining yen.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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