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The United States also has a net surplus in trade in services, the last time I checked.
Andrew Smithers, a London-based economist, argues that Japan's biggest problem is a large net surplus of saving, a result of its demographic structure.
"As long as we're importing more goods than we're exporting," he said, "we always have a net surplus of these giant steel boxes.
Net surplus at £581m had more than doubled compared to 2008/09s £205m, while operating surpluses rose from 15% of turnover to 18%.
It projects a net surplus of $466 million this year and has set aside $240 million as a "rainy day" reserve.
Five years of public ownership and it is now the best run and most efficient operator, making a net surplus of £16m for the taxpayer.
Similar(28)
Operating surpluses and net surpluses as a percentage of turnover were also strongly up year-on-year.
Engineering departments usually generate large net surpluses – usually used to cross subsidise less financially viable university departments.
But all European countries cannot be Germany and run net surpluses, especially if Berlin insists on policies that keep factories shuttered and workers unemployed.
Even though China is investing at the staggering rate of 46% of GDP, it is still running a net saving surplus, and that surplus is still growing.
Agricultural exports soared to $136.3 billion last year, producing a net trade surplus of $42 billion; this surplus was $5 billion five years ago.
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