Japan books $16.6 bn current account surplus for 2nd consecutive month

Japan logged a current account surplus of $16.6 billion in February, the Finance Ministry said in a report on Monday

Japan logged a current account surplus of 2.2 trillion yen ($16.6 billion) in February, the Finance Ministry said in a report on Monday, back to the black following a deficit in January.

According to the Ministry's preliminary information, the figure was 2.3 per cent lower than in the same period last year, reports Xinhua news agency.

According to the Ministry, the country had a goods trade deficit of 604.1 billion yen and a services trade deficit of 220.4 billion yen, among key components in the recording period.

Imports and exports expanded 9.8 per cent and 4.5 per cent year on year, respectively, the preliminary data showed.

The report also showed that the primary income, which reflects returns on overseas investments, booked a surplus of 3.44 trillion yen on the backdrop of higher interest rates overseas and the weaker yen.

--IANS

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