Japan’s Trade Surplus Rises

Japan’s balance of payments surplus surged to a record level in the first half of the year and economists say they have every reason to believe the gap will keep on growing.

The Ministry of Finance said Wednesday that the surplus in Japan’s widest measure of trade in goods and services--the current account of the balance of payments--nearly doubled to an unadjusted $56.18 billion in the first six months of calendar 1992 from a revised surplus of $28.92 billion in the same period a year earlier.

“Japan’s trade surplus is simply a fact of life,” said Chiharu Shima, economist at UBS Phillips and Drew International Ltd. “The best hope for a lower surplus would be a healthier domestic economy, and that won’t happen anytime soon.”

The previous record current account surplus was $50.08 billion in the second half of 1986.

Sluggish domestic demand and lower commodity prices were the major reason imports have been weak, falling to $96.25 billion during the first six months from $102.89 billion a year ago.