The nation's current account surplus in fiscal 1999 fell 16.8 percent from the previous year, its first decline in three years, as imports from the rest of Asia showed particularly high growth.

The surplus in the current account -- which measures trade in goods and services as well as investment flows and cash transfers -- came to 12.62 trillion yen, down from 15.17 trillion yen in fiscal 1998, the Finance Ministry said Monday.

In March alone, the current account surplus rose 25 percent to 1.3 trillion yen for the second consecutive month of year-on-year increase, despite a 17.4 percent decline in surplus trade in goods and services.