Japan Current Account Surplus at 5
Bloomberg News
Japan's current account surplus unexpectedly rose as the income surplus expanded, even as the longest string of trade deficits since 1964 continued to drag on the economy.
The surplus grew 14.3 percent from a year earlier to 587 billion yen ($5.9 billion). The median forecast in a Bloomberg News survey of 24 economists was for a 401 billion yen excess in the widest measure of the nation's trade.
Japan's increased imports of fossil fuels after nuclear plants were shuttered in the wake of the Fukushima disaster has pushed the trade balance into deficit. Prime Minister Shinzo Abe has called for nuclear power generation to restart if the facilities are safe as he seeks to drive a recovery in the world's third-biggest economy.
To contact the reporters on this story: James Mayger in Tokyo at jmayger@bloomberg.net; Andy Sharp in Tokyo at asharp5@bloomberg.net
To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net
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