Japan's current account surplus up 42 percent


Japan's current account surplus rose 42 percent in December from a year ago

TOKYO, Japan -- Japan's current account surplus rose 42 percent in December from a year earlier to 971.8 billion yen ($7.3 billion), the Ministry of Finance said Thursday.

The surplus, which is the broadest measure of trade in goods and services, was larger than expected.

Analysts had been tipping a rise of about 20 percent.

The current account surplus for 2001 was down 12 percent from the previous year at 11.06 trillion yen ($83.1 billion).

The ministry also said Japan's December trade surplus shrank 18.4 percent to 811.8 billion yen ($6.1 billion). For the full year, the trade surplus dropped 32.2 percent to 8.52 trillion yen ($64 billion).

Japan's current account surplus had been falling due to reduced demand for its exports.

But the recent weakening of the yen -- it has dropped 15 percent against the U.S. dollar since December -- is seeing a revival in export earnings for Japanese automakers and consumer electronics manufacturers.