Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The Japanese economy posted a current account surplus for the 22nd consecutive month in April on declining crude oil prices amid reduced imports. Also, a growing number of foreign tourists has helped improve the trade balance.
The nation’s current account surplus touched ¥ 1.878tn ($17.53bn) in April, down from a ¥2.98tn surplus in March that was the highest since March 2007. The result was below the market expectation of ¥2.3tn.
On an adjusted basis, the surplus shrank to ¥1.625tn from ¥1.893tn, whereas economists had expected a widening to ¥2.013tn.
Japan’s trade surplus narrowed to ¥697.1bn in April from ¥927.2bn in March and a much bigger drop than that implied by the average forecast of economists of ¥919bn. Among key components in the current account, one of the widest gauges of a country's international trade, goods trade registered a surplus of 697.1 billion yen, a reversal from a deficit of 132.0 billion yen a year earlier.
Exports dropped 10.4 percent from a year earlier to 5.60 trillion yen, partly affected by a drop in automobile exports following the quake in Kumamoto Prefecture. Imports slid 23.1 percent to 4.91 trillion yen. Meanwhile, the value of crude oil imports fell 51.8 percent as average oil prices slid 34.3 percent to $36.96 per barrel in the month. The value of liquefied natural gas imports plunged 44.5 percent.
"It is likely to take a few months to have the effect of rising crude oil prices reflected in Japan's trade data," a ministry official said post the release of the data.
