The nation's current account surplus for the first six months of the year rose 40.4 percent from the same period last year to 5.05 trillion yen, logging the first increase since the January-June period of 1993, provisional figures released August 8 showed.
Finance Ministry officials attribute the surge to growth in the trade and services surplus, which marked a year-on-year rise of 76.8 percent to 1.98 trillion yen -- also the first increase since the first half of 1993. But officials maintain that they do not believe there will be a major change in the declining trend in the trade account surplus seen over the past few years, due largely to structural changes in the economy, such as a shift to overseas production and more deregulation at home.
"However, while there will not be a significant increase (in the surplus), it is natural that there be short-term fluctuations, and we will continue to keep an eye on the figures," one official said. He added that for the months from April to June, the surplus figures were affected by a 2-percentage point hike in the consumption tax beginning April.