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Japan logs record 1.93 trillion yen current account surplus in November

TOKYO
2024-01-12 13:40

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TOKYO, Jan. 12 (Xinhua) -- Japan logged a record current account surplus of 1.93 trillion yen (13.3 billion U.S. dollars) in November, government data showed on Friday.

According to the Finance Ministry, the current account surplus in the 10th straight month of gains expanded 8.7 percent from a year earlier, amid a narrowed trade deficit and increased inbound tourism.

In goods trade, the country's deficit more than halved to 724.1 billion yen as imports fell more than exports in the reporting period, it said, adding that overall imports were down 11.4 percent to 9.35 trillion yen while exports fell 4.5 percent to 8.62 trillion yen.

The services trade surplus came to 24.7 billion yen due to increased spending by foreign visitors to Japan, it added.

Japan's travel surplus, which means the amount of money spent by foreign visitors to Japan exceeds that spent by Japanese abroad, grew over 1.8-fold to 296 billion yen, the data showed.

The number of foreign visitors to Japan increased 2.6-fold to 2.44 million in November, according to the government.

Meanwhile, the primary income, which reflects returns on overseas investments, saw its surplus down 20.3 percent to 2.89 trillion yen. (1 Japanese yen equals 0.0069 U.S. dollar)
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