Japan's Current Account Surplus In October Contracts 39 Pct

Japan's current account surplus in October contracts 39 pct

Japan's current account surplus in October contracted a year-on-year 39.4 percent to 1.2 trillion yen (10 billion U.S. dollars), down for the third consecutive month, the Finance Ministry said Wednesday

TOKYO, Dec. 8 (UrduPoint / Pakistan Point News - 8th Dec, 2021 ) --:Japan's current account surplus in October contracted a year-on-year 39.4 percent to 1.2 trillion Yen (10 billion U.S. Dollars), down for the third consecutive month, the Finance Ministry said Wednesday.

The current account balance marked black ink for 16 consecutive months, buoyed by solid Primary income including returns on overseas investments, according to a preliminary report released by the ministry.

The current account balance is regarded as one of the widest gauges of international trade.

By components, exports marked a year-on-year 11.7 percent rise to 7.1 trillion yen (62.6 billion dollars), as shipments of steel surged 80.1 percent on high prices and exports of semiconductor-producing equipment jumped 45.1 percent amid a global chip shortage.

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