Japanese Finance Ministry reveals current account surplus down 63%
July 10, 2012, 12:41 am TWN
TOKYO -- Japan's current account surplus plunged 62.6 percent in May from a year earlier, deteriorating for the 15th straight month, official data showed Monday.
The surplus in the current account, the broadest measure of trade with the rest of the world, stood at 215.1 billion yen (US$2.7 billion), the finance ministry said.
Economists had expected a surplus of 511 billion yen, according to Dow Jones Newswires.
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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