Japan June current account surplus +48.4 pct yr/yr

Aug 13, 2007 - Japan's current account surplus rose 48.4 percent in June from the same month a year earlier to 1.5203 trillion yen ($12.84 billion), government data showed on Monday.

Forecasts in a Reuters poll had centred on a year-on-year rise of 57.0 percent to 1.6090 trillion yen. The trade surplus rose 56.8 percent to 1.3524 trillion yen, with exports rising 16.1 percent and imports up 9.2 percent. The income surplus, or gains made on overseas investments, fell 2.6 percent from the same month a year earlier.

For the January-June period, the current account rose 31.1 percent to a record 12.47 trillion yen (US$105.43 billion; euro77.24 billion) from a year earlier, expanding for the fourth straight term, the ministry said.

The current account measures trade in goods, services, tourism and investment. It is calculated by determining the difference between Japan's income from foreign sources against payments on foreign obligations and excludes net capital investment.

In May, the current account rose 31.1 percent from a year earlier.