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The growth in Japan's net exports, as measured by the growth in its trade surplus, has accounted for more than a third of GDP growth since the start of the recovery in 2002.
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Its current-account surplus has narrowed largely because of an increase in domestic investment, not consumption.
Tellingly, Germany's current-account surplus has risen above 7% of GDP.
Japan's current-account surplus has been rising.Will that change?
China's current-account surplus has fallen from 11% to an estimated 6% of GDP.
Its current-account surplus has fallen by almost half, to around 6% of GDP from 11% in 2007.
Meanwhile its current account surplus has dropped dramatically, from 10.1% of GDP in 2007 to 2.1% last year.
But it has carried on growing even as its current-account surplus has shrunk, and trade has subtracted from growth, not added to it.
Israel's nascent production of natural gas, which has cut fuel imports and thus boosted the current-account surplus, has also contributed.
With stimulative fiscal and monetary policy bolstering domestic demand, China's current-account surplus has shrunk by two-thirds, from 10% of GDP in 2007.
Global markets are volatile: the country's current-account surplus has fallen by more than half from a mighty 8% of GDP in just a year.
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CEO of Professional Science Editing for Scientists @ prosciediting.com