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Japan's current account surplus drops 50.2% in June

08-08-2011 11:22 BJT

TOKYO, Aug. 8 (Xinhua) -- Japan's current account surplus dropped 50.2 percent in June from a year earlier to 526.9 billion yen (6.71 billion U.S. dollars), according to data released by the Ministry of Finance (MOF) Monday.

The figure in the government's preliminary report came in below consensus forecasts for a surplus of 652.8 billion yen and follows a 590.7 billion yen surplus in May and marks the fourth month consecutive month of contraction.

The ministry also noted that in the first half of 2011, the current account surplus fell 36.3 percent from a year earlier to 5, 509.8 billion yen.

In addition, the MOF's data showed that the balance of trade in goods booked a surplus of 131.5 billion yen in the recording period.

This marks a drop of 82.7 percent on year, but the reading came in ahead of expectations for a surplus of 113.1 billion yen and marked a turnaround from three months of deficit logged since the March disasters.

While exports declined 1.1 percent on year to 5.504 trillion yen and imports rose an annual 11.9 percent to 5.372 trillion yen, the government noted that the services trade balance recorded a deficit of 120.6 billion yen, due to a decline in overseas visitors in the wake of the March 11 disasters.

Editor:Wang Xiaomei |Source: Xinhua

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