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TOKYO - JAPAN'S current account surplus nearly halved in September from a year earlier, with high energy costs driving up import costs while export growth was slack, the government said on Tuesday.
Asia's largest economy posted a surplus of 1,497.9 billion yen (S$22.9 billion) in its current account, the broadest measure of trade in goods and services, down 48.8 per cent from a year earlier, the finance ministry said.
Merchandise exports rose 2.1 per cent to 7,035.2 billion yen as shipments bound for the United States and the European Union sagged.
Imports soared 32.7 per cent to 6,788.1 billion yen, inflated by the higher cost of oil and gas.
Historically, Japan has run a large surplus in its current account thanks to brisk exports of cars, electronics and other goods. But it has seen the surplus steadily decline in recent months. -- AFP
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