15 October 2001, 09:11  Japan Aug goods/services deficit 47.2 bln yen vs surplus 344.6

TOKYO (FWN) - The balance of goods and services turned to a 47.2 bln yen deficit in August from a surplus of 344.6 bln a year earlier, an official of the Ministry of Finance said. The official said the drop in the goods and services balance in August was in line with the sustained fall in the trade surplus. Trade surplus in August fell to 482.8 bln yen from 769.7 bln a year earlier partly due to a sharper decline in exports compared with imports, the official said. "Imports declined as the negative impact from falling export volumes offset the positive impact of a weakening yen. This fact indicates that domestic demand is currently slowing," the official said. In August, the dollar/yen rate averaged 121.61, compared with 108.07 a year earlier. The deficit in services widened to 530 bln yen in August from 425.1 bln a year earlier due to the fall in transport and travel services, he said. The official said the impact from the Sept 11 attacks in the US on Japan's current account is still uncertain.

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