Japan’s Trade Surplus Shrinks 70% in April

Japan’s trade surplus declined by 70% in April, the sharpest drop since June, 1979, due largely to a jump in imports that reflects the expensive tastes of Japanese consumers, economists said Friday.

The surplus in Japan’s current account, the broadest measure of trade in goods and services, narrowed to $2 billion in April from $6.58 billion a year earlier and $8.13 billion in March.