11. One factor contributing to the declining trend is a continued widening of the service deficit, caused by a rise in the number of Japanese citizens traveling abroad. 12. The Finance Ministry attributed the December rise to higher exports compared with imports and a widening in the service income deficit. 13. The service deficit includes fees that Japanese companies pays abroad for patents, transportation and communications. 14. In transport, seaport expansion in particular was likely to be the top priority to reduce the services deficit caused by freight and insurance outflow, RAM said. 15. A ministry official said that expected rises in the services deficit would support the declining trend of the current account surplus in the near term. 16. The official said that expected rises in the services deficit should also support the declining trend of the current account surplus in the near term. 17. The official cited the sustained growth of imports and the continued growth in the services deficit as the main factors helping to reduce the current account surplus. 18. The service deficit recorded the largest level for a single month, reflecting expansion in the travel deficit, they said. 19. The services deficit was another factor in the decline in the current account surplus for the year, the official said. 20. Ministry officials said the significant rise in the services deficit helped to reduce the current account surplus in July. |