By KUNA
Tokyo : Japan’s current account surplus widened 45.7 percent in October from a year earlier to JPY 2.23 trillion (USD 20.1 billion) for the 10th consecutive monthly increase on the back of strong exports to Europe and other parts of Asia and returns on its overseas investments, the Finance Ministry said Wednesday.
The trade surplus alone grew 52.3 percent in the reporting month from a year ago to JPY 1.16 trillion (USD 10.5 billion), up for the third month in a row, according to the data released by the ministry.
Exports rose 13.7 percent to JPY 7.11 trillion (USD 64.1 billion), up for the 47th month in a row and the second-highest on record, while imports jumped 8.3 percent to a record JPY 5.95 trillion (USD 53.6 billion).
The current account balance, the broadest measure of trade in goods, services, tourism, and investment, is the difference between Japan’s income from foreign sources against payments on foreign obligations, excluding net capital investment.
The income account surplus, which measures the difference between dividends flowing into Japan and those paid to overseas investors, rose 17.4 percent to JPY 1.39 trillion (USD 12.5 billion), buoyed by an increase in income and stock dividends from Japanese investments overseas.