Japan's Current Account Surplus Hits Record High for April

Tokyo, June 9 (Jiji Press)--Japan's current account surplus in April rose 3.2 pct from a year earlier to 2,258 billion yen, a record high for the month, Finance Ministry data showed Monday.

The current account balance, the broadest measure of a country's international trade and investment flows, was in the black for the third consecutive month, as the country's goods trade deficit slumped driven by growth in exports of semiconductors and other electronic parts.

The trade deficit fell to 32.8 billion yen from 635.5 billion yen.

Exports rose 4.0 pct to 8,769.1 billion yen, also a record high for April, led by high demand for electronic parts including chips, as well as food and medical supplies.

Meanwhile, imports fell 2.9 pct to 8,801.9 billion yen due to a decline in coal and crude oil imports.

The surplus on the primary income account, which reflects dividend and interest flows, decreased 9.6 pct to 3,589.9 billion yen. Dividends from overseas subsidiaries shrank, as did their yen equivalent value due to the strength of the Japanese currency.

The services trade deficit expanded to 768.1 billion yen from 732.9 billion yen. The travel service balance improved thanks to an increase in visitors from abroad, while the balance on intellectual property rights royalties deteriorated to a deficit of 24 billion yen from the year-before surplus of 136.2 billion yen on an increase in payments.

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