The nation's current account surplus soared 51.9 percent in the first half of 2002 from a year earlier to 7.928 trillion yen, the second-largest figure for a six-month period, according to a preliminary report released Monday by the Finance Ministry.

The ministry attributed the improvement to brisk exports.

The current account surplus has been on an upward path since early this year, mainly due to an increase in exports to other parts of Asia.

This also marks the first time in four half-year periods that the current account balance has posted an increase.

Although the January-June surplus figure is slightly short of the record 7.985 trillion yen logged in the July-December period of 1998, it is the biggest-ever figure for a first-half period, ministry officials said.

The balance of trade in goods and services in the first half of 2001 saw a surplus of 3.462 trillion yen, up 136 percent, according to the ministry.

The surplus in merchandise trade rose 38.8 percent to 5.838 trillion yen.

Exports rose 1 percent to 24.043 trillion yen, marking a first increase in three half-year periods.

Imports fell 7.1 percent to 18.205 trillion yen, however, marking a second straight six-monthly fall, reflecting weak domestic demand.

The services trade deficit shrank by 362.3 billion yen to 2.377 trillion yen, a decline that was partly attributed to a decrease in overseas travel in the wake of the Sept. 11 terrorist attacks.

The income account, which covers income from Japanese investments in foreign securities and payments by foreign employers to workers in Japan, logged a surplus of 4.567 trillion yen, up 329.2 billion yen.

While the current account surplus soared for the first six months of the year, economists have warned that the trend may not continue for many more months given the deceleration risks facing the U.S. economy -- Japan's major export market -- and the strengthening of the yen.

"Exports to Asian economies are better than expected, and I expect this trend to continue for two or three more months (from June)," remarked Junji Ota, an economist at Okasan Economic Research Institute.

"But the risk of the U.S. economic slowdown is one that cannot be ignored, and it is not very likely that the surplus will continue to increase in the mid- to long-term."

The current account balance -- the broadest gauge of trade in goods and services -- shows the difference between a nation's income from foreign sources and foreign obligations payable, excluding net capital investment.

The current account surplus rose 90.3 percent in June from a year earlier to 1.507 trillion yen, marking a ninth consecutive monthly increase, the ministry said.

The balance of trade in goods and services in June saw a surplus of 1.062 trillion yen, up 122.7 percent.

The surplus in merchandise trade rose 59 percent to 1.448 trillion yen.

Exports rose 6.8 percent from a year before to 4.204 trillion yen, marking a third consecutive monthly rise, while imports dropped 9 percent to 2.756 trillion yen, marking an 11th straight monthly fall.

The services trade deficit dropped 47.5 billion yen from a year earlier to 386.8 billion yen, partly because a number of people stayed at home to watch the World Cup soccer finals cohosted by Japan and South Korea, ministry officials said.