Translate the text into Russian. № 3.5

Japan’s Current Account Reaches a Record Surplus

Japan’s current-account surplussurged to a record in March as exports remained strong and imports fell for the first time in more than three years, the Finance Ministry said.

The surplus in the current account, the broadest measure of trade in goods, services and investment earnings, widened 36.9% to 3.317 trillion yen before seasonal adjustment, the Ministry said.

The increase was mainly because of a slowdown in imports, which fell for the first time in 37 months, a ministry official said. Imports were affected by a decrease in business in Asia, especially China, because of the Lunar New Year holidays, the official said.

Economists said yen weakness will continue to support growth in the current-account surplus. ”As long as the trend of the weak yen continues, the Japanese current account will remain strong, underpinned by companies’ healthy overseas business,” said Yasuo Yamamoto, a senior economist at Mizuho Research Institute.

The current-account surplus for the fiscal year ended in March rose 11.1% to 21.253 trillion yen, topping 20 trillion yen for the first time.

Separately, the Japanese central bank said corporate-goods prices rose 2.2% in April from a year earlier, marking the biggest year-to-year increase since December, when the index gained 2.5%. April’s growth marks the 38th straight month of increase.

The Wall Street JournalMay 2007

Translate the text into Russian. № 3.6

Korea Posts Record Nine-month Trade Surplus,

Despite Declines

South Korea had a larger-than-expected $3.79 billion trade surplus in October, helped by brisk exports of information-technology products and rising demand from emerging markets including China, the Ministry of Knowledge Economy said Sunday.

The government says it now expects that monthly exports and imports will begin to grow in November, partly helped by the low base from the year-earlier periods.

This projection is a come-down from its previous one, as it had said a month earlier that the exports and imports would grow at the beginning of the fourth quarter, in October. But the government still points to a faster-than-expected recovery of domestic and global demand.

South Korea is one of the first economies in the region to report trade data, and thus provides a gauge to market watchers in assessing global demand.



According to the preliminary data, exports in October fell 8.3% from a year earlier at $34.03 billion, less than the 12% decline projected by market watchers, while imports were down 16.3% at $30.23 billion, versus a forecast for a 15.7% decline.

The trade balance was in the black for a ninth straight month, with the surplus for the January-October period totaling $34.58 billion, the biggest on record, followed by a $31.9 billion surplus in the first 10 months of 1998.

In September, Korean exports and imports fell 7.8% and 24.6% respectively, for a $4.7 billion surplus.

The latest data are expected to fuel growing optimism that South Korea will be one of the countries that weathers the severe global economic downturn better than expected this year.

Such optimism was recently backed up by the government, which now sees possibilities for gross domestic product to expand this year, since South Korea’s production and exports are doing far better than when it had expected GDP to contract 1.5% this year.

According to recent production data, industrial output jumped 11% in September from a year earlier, the fastest pace in 20 months.

A majority of analysts still believe the Bank of Korea won’t start to raise rates from an all-time low of 2% before early next year, due partly to the opposition from the government, which is warning that a hasty rate increase will hurt the nascent recovery. Still, experts say the firm economic indicators announced recently are more than enough to sway the central bank to adjust its policy rate.

Exports to China, South Korea’s biggest export destination, rose 3.4% from a year earlier in the first 20 days of the month, while those to the Association to Southeast Asian Nations jumped 9.0% in the same period, marking the first rise this year.

Compared with the first 20 days of October 2008, shipments to developed nations were weaker, with exports to the U.S. down 37.4%. Shipments to the European Union were off 19% and those to Japan were down 22.5%.

The Wall Street JournalNovember 2009


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