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Japan's March current account surplus falls
May 15, 2001

Japan's current account surplus in March fell 0.6 per cent from a year earlier as a slowdown in the global economy curbed overseas demand for the country's exports. However, the services deficit decreased 0.6% to 363 billion.

The current account surplus, which measures the flow of goods, services and investment income, and other financial transfers, came to 1.3 trillion yen (S$19.3 billion), marking the fourth consecutive year-on-year decline according to Ministry of Finance data released 14 May, 2001.

The March data comprised a 739.7 billion yen surplus in trade of goods and services, 702.3 billion yen in financial income and a deficit of 138.4 billion yen in monetary transfers.

The surplus in goods trade alone dropped 13.8 per cent in the month to 1.103.3 trillion yen, with exports rising 3.1 per cent to 4.675.2 trillion yen and imports a stronger 9.8 per cent to 3.571.9 trillion yen.

In the financial year ending March, Japan's current account surplus fell 4.5 per cent year-on-year to 12.1 trillion yen. The surplus in goods trade alone dropped 16.1 per cent to 11.6 trillion yen with exports rising 6.6 per cent to 49.8 trillion yen and imports gaining a robust 16.1 per cent to 38.3 trillion yen.

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