Japan’s current account surplus drops 29.4%

Japan’s broadest measure of trade with other nations slipped in October for a second consecutive month. Japan’s current account surplus dropped 29.4% for the month from a year earlier, to nearly 4.6 billion dollars, according to Japan’s (NHK WORLD) website. Japan’s Finance Ministry officials attribute the dip mainly to falling exports. The trade deficit in goods came to more than 5 billion dollars. Global demand is down, as economies around the world remain sluggish. In addition, Chinese consumers are buying fewer products from Japan. The two countries remain at odds over a territorial dispute. Exports were down 6% , to about 60 billion dollars. And imports dropped by 1.4% , to about 65 billion dollars.