Tuesday, January 12, 2010

Japan November Current Account Surplus Y1.103 Tln; Expected Surplus Y1.029 Tln

apan November Current Account Surplus Y1.103 Tln; Expected Surplus Y1.029 Tln

TOKYO (Dow Jones)--Japan's current account surplus expanded 76.9% from a year earlier in November, the Ministry of Finance said Tuesday.

The surplus in the current account, the broadest measure of Japan's trade with the rest of the world, stood at Y1.103 trillion in November before seasonal adjustment.

The result was better than a 64.96% increase in the surplus to Y1.029 trillion forecast by economists polled by Dow Jones Newswires and the Nikkei. In October, the surplus rose 42.7% to Y1.398 trillion.

Exports fell 7.0% on year to Y4.704 trillion, less than the 24.6% fall in October. Imports dropped 18.2% to Y4.214 trillion, compared to a 37.7% fall in October.

Income from overseas securities held by Japanese firms dropped 13.3% on year to Y732.8 billion as interest rates around the world remained lower than in the same month last year.

The current account measures trade in goods, services, tourism and investment. It is calculated by determining the difference between Japan's income from foreign sources against payments on foreign obligations and excludes net capital investment.

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-By Andrew Monahan, Dow Jones Newswires; 813-6269-2774; andrew.monahan@dowjones.com

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