Home Current News UPDATE 1-Diplomatic row with South Korea starts to hurt Japan’s services account

UPDATE 1-Diplomatic row with South Korea starts to hurt Japan’s services account

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UPDATE 1-Diplomatic row with South Korea starts to hurt Japan's services accountThe travel account surplus – or the amount spent in Japan by foreign visitors minus that by Japanese travelling overseas – shrank 0.9% in July from a year earlier to 229.3 billion yen, current account data by the Ministry of Finance showed on Monday. Japan’s decision in July to tighten controls on exports of materials to South Korea, which are used to make semiconductors, has prompted a backlash in Korea, with consumers boycotting Japanese goods and cancelling tours to the neighbouring country.

Source: yahoo.com/news