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Japan current account surplus largest since 2007 in March: MOF

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Japan's current account surplus stood at 2.98 trillion yen (S$37.61 billion) in March due to falling imports on oil price declines and a hefty income surplus from overseas investment at the fiscal year's end, Ministry of Finance (MOF) data showed on Thursday.

[TOKYO] Japan's current account surplus stood at 2.98 trillion yen (S$37.61 billion) in March due to falling imports on oil price declines and a hefty income surplus from overseas investment at the fiscal year's end, Ministry of Finance (MOF) data showed on Thursday.

That compared with economists' median forecast for a surplus of 3.0 trillion yen in a Reuters poll, posting the largest surplus since March 2007, the data showed.

It was the 21st straight month of surplus in the balance of payment.

For the full fiscal year that ended in March, Japan's balance of payment logged a surplus of 17.98 trillion yen, the biggest in five years thanks to cheap oil and large income gains, the MOF data showed.

REUTERS