Record surplus in Japan's trade
NZPA-Reuter Tokyo! Japan’s trade surplus with; the rest of the world soared 1 to a record SUSIB,27OM last year, almost double the 1977 figure. Exports in the year rose, by 21 per cent to 597.580 M iand import were up by 12; per cent to 579.310 M on a customs clearance basis. C J Customs clearance figures I r jshow the trend of Japan’s visible trade and current; ■'account surpluses, which! ;: have been major factors 1 ’.behind the United States' !dollar’s fall on the foreign' 1 iexchange market. ■ However, customs clear-i Nance statistics for December! !showed that a recent down-' J ward trend of the surplus j was being maintained. The! ! December surplus rose toi ■SI97OM from $19,000M in! I November, but it fell from! $2200M in December 1977.
>' But on a seasonally! i J adjusted basis, the December I 1 surplus fell sharply to; :iB.oi.Bt»M from SI3OOM in: 'November. jin December fell 7.2 per cent! With adjustments, exports! I'from November to SSIIOMI ! while imports dipped 1.2 per 11 cent to S/340M. Customs clearance statistsi ics are calculated on a frees on-board (fob) basis, while tithe cost of insurance and i! freight (cif) is added to imd ports. i Japanese vehicle exports! i' last year rose 6.3 per cent in! i yen terms, while exports of J ■ ships plunged 30.5 per cent,! land shipments of steel were down 12.2 per cent. . Japan has been under inti tense international pressure; uto cut its surpluses, and do! I more to help world eco-l il nomic recovery by importing; -more.
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Press, 27 January 1979, Page 19
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262Record surplus in Japan's trade Press, 27 January 1979, Page 19
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