The country's current account surplus jumped 107.7 percent in May from a year earlier to 1.04 trillion yen, marking an eighth consecutive month of increase, according to a preliminary report released Monday by the Finance Ministry.

The ministry attributed this growth primarily to a 321.1 billion yen surplus in goods-and-services trade, led by strong exports to other Asian markets and the United States.

This surplus marked a turnaround from the deficit of 183.2 billion yen chalked up in May 2001, when the implosion of the information technology boom slowed the country's exports, according to a ministry official.

The current account is the broadest gauge of trade that measures the difference between a country's income from foreign sources and foreign obligations payable, excluding net capital investment. It combines trade, services, income and current transfers.

In May, the surplus in merchandise trade -- exports minus imports -- expanded 182.8 percent on a year-on-year basis to 728.8 billion yen, marking a third straight month of increase.

Exports registered a year-on-year rise of 8.7 percent to 3.93 trillion yen, marking a second straight month of increase and the largest year-on-year rise since November 2000, according to the ministry.

Imports fell 4.6 percent to 3.2 trillion yen, marking a 10th straight month of decline.

In May, the yen averaged 126.48 against the dollar, a 3.7 percent depreciation on the average of 121.93 logged a year ago. Crude oil prices stood at 20,685 yen per kiloliter during the same month, marking a 2.3 percent increase from a year earlier.

The deficit in the services account narrowed by 33.2 billion yen to 407.7 billion yen in May, mainly because the number of Japanese tourists decreased from the previous year while the balance of royalties and license fees went into the black.

Income balance surplus increased to 822.5 billion yen, marking a first year-on-year increase in two months. The increase in surplus mainly stemmed from a growth in the foreign investment returns of Japanese firms.