Japan's current account surplus up by 2.5 times in May

By Gokhan Ergocun

ISTANBUL (AA) – Japan's current account surplus saw about a 2.5-fold increase in May compared to the same month last year thanks to record investment returns and a smaller trade deficit.

According to Kyodo News, the country's current account surplus was 1.86 trillion yen (approximately $13 billion) in May.

It noted that a sharp decline in energy imports narrowed the country's foreign trade deficit.

Exports, however, declined in May for the first time in the last 27 months.

Japan's trade deficit dropped by 38.8% to 1.19 trillion yen ($8.3 billion) in the month on an annual basis.