INTERNATIONAL

Japan’s Trade Surplus Shrinks: The gap narrowed to $107.10 billion in 1995 from a record $120.86 billion a year earlier, official figures show. The nation’s trade surplus with the United States, often a cause of friction between the two countries, dropped to $45.56 billion from $54.90 billion a year earlier, the Finance Ministry said. Economists said brisk import growth has eaten into the surplus, while exports have suffered as the high yen pushed manufacturers to shift production overseas. In December alone, the overall trade surplus declined to $10.95 billion from a revised $13.03 billion a year earlier, the sixth consecutive month the surplus has fallen year-on-year.