Tokyo, Feb. 14 (Bloomberg) -- Japan's current account surplus shrank byone-third in December, as slowing export growth ate into the trade surplus. The current account surplus narrowed 33.6 percent to 662.7 billion yen($5.7 billion), seasonally adjusted, in December from November, theMinistry of Finance said. Economists had expected the surplus to fall to678.5 billion yen. From a year ago, the surplus shrank 20.7 percent. The current account is the broadest measure of the flow of goods andservices to and from Japan. The trade surplus accounts for almost all ofthe current account surplus and with economic growth in the U.S. slowingwhile imports continue to grow, the surplus will probably shrink in comingmonths. ``This downward trend is expected to remain intact through the first half of2001, due to a shrinking trade surplus amid economic slowdown amongJapan's trading partners,'' said Mamoru Yamazaki, chief economist atBarclays Capital Japan Ltd. According to today's report, the trade surplus narrowed 17 percent inDecember from November to 737.4 billion yen. Exports rose 1.1 percent inDecember from November, to be 8.2 percent higher than a year earlier.Imports rose 6.2 percent from the previous month, to be 21.4 percenthigher than a year ago. Japan is the world's second largest oil importer after the U.S. The ministrybased its figures for December on an oil price of $31.93 a barrel, up 29.4percent from a year earlier. Crude oil accounts for about one-eighth of totalimports. The yen averaged 112.21 to the dollar in December, down from 102.68 ayear ago, the finance ministry said. It was recently at 116.62 to the dollar.