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Sunday, September 13, 2009
Japan's current account surplus widened more than expected in January as exports surged, stoking growth in the world's second-largest economy.
The surplus expanded 50 per cent to ¥1.19 trillion ($12.8 billion) from a year earlier, the Ministry of Finance said in Tokyo yesterday.
The median estimate of 27 economists surveyed by Bloomberg was for ¥1.04 trillion.
Japan's economy grew at the fastest pace in three years in the fourth quarter, as rising overseas demand prompted companies to boost spending on factories and machinery. The current account surplus may keep widening as exporters such as Toyota ship more goods and as cheaper oil helps limit the nation's import bill.
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