Japan's current account surplus shows rise

Japan’s current account surplus shows rise

The Finance Ministry said that Japan's current account surplus amounted to Yen 1.45 trillion ($13.2 billion) in August with a rise of 2.3% compared to the same period of last year. In the mentioned period, the surplus in trade of goods declined by 15.3% to Yen 806.3 billion, indicating the first drop in the last 14 months. Exports rose by 11.4% to Yen 4.57 trillion while imports were recorded as Yen 3.76 trillion, up by 19.4%. Meanwhile, Prime Minister Junichiro Koizumi stated Tuesday that Japan's economic recovery continues at its way with the private sector leading the way while his reform program approaches a crucial moment. He also stressed that small and medium sized businesses and regional economies still need help to benefit from the economic upswing.