Japan current a/c surplus doubles

Japan's current account surplus doubled in April from a year earlier,and bank lending posted its biggest annual rise in over three years,in a fresh sign the government’s aggressive policies to stimulate growth are paying early dividends.

Written by Reuters | Tokyo | Published: June 11, 2013 4:30 am

Japan’s current account surplus doubled in April from a year earlier,and bank lending posted its biggest annual rise in over three years,in a fresh sign the government’s aggressive policies to stimulate growth are paying early dividends.

Separate data showed Japan grew 1.0 per cent in the first quarter,revised up slightly from a preliminary estimate,underscoring a steady recovery driven by a pickup in global growth and sweeping stimulus policies by Prime Minister Shinzo Abe.

The current account surplus stood at 750 billion yen,up 100.8 per cent from a year earlier. Hefty income gains including returns from investments abroad,which were boosted by a weak yen,more than made up for trade deficits,analysts say.

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