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From Times Staff and Wire Reports

Japan’s Trade Deficit Swelled 62%: Japan said its trade surplus totaled a record $113.4 billion in fiscal 1991, a trend economists attributed more to the world economic slump than to aggressive exports or closed markets. The previous record was $101.65 billion in fiscal 1986. The surplus is expected to reach another record in 1992, surpassing $120 billion. The fiscal year ends March 31. The Finance Ministry said the surplus grew mainly because of the stronger yen, lower prices for imported oil and sluggish domestic demand. Exports in fiscal 1991 grew 7.6% from 1990 to $311.79 billion, but the rise was attributed mostly to a 6% appreciation of the yen relative to the dollar.

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