Nov. 10 (Bloomberg) -- Japan’s current-account surplus unexpectedly widened in September as worldwide government stimulus spending helped to ease declines in exports.

The surplus rose 0.2 percent to 1.57 trillion yen ($17.5 billion) from a year earlier, the Ministry of Finance said in Tokyo today. The median estimate of 22 economists surveyed by Bloomberg was for the gap to narrow to 1.51 trillion yen.

The world’s second-largest economy probably expanded for a second quarter in July through September, driven by a rebound in demand from Asia that spurred sales at companies including Nissan Motor Co. Even so, trade hasn’t recovered to levels seen before the financial crisis, leaving doubts over the strength of the recovery once $2 trillion in global stimulus runs out.

“The worst is over,” said Masamichi Adachi, senior economist at JPMorgan Chase & Co. in Tokyo. “Exports are on a gradual recovery path. That said, they’re still at a very low level compared to their peak.”

The yen traded at 89.87 per dollar at 9:07 a.m. in Tokyo from 89.84 before the report was published.

Exports slid 32.1 percent in September from a year earlier, less than August’s 37.1 percent drop. Imports fell 37.7 percent, compared with a 42.8 percent decline a month earlier.

Japan’s economy probably grew at an annual 2.9 percent pace last quarter, according to the median estimate of 17 economists surveyed by Bloomberg News. The Cabinet Office report is scheduled for release on Nov. 16.

China Demand

Growth in China, which surpassed the U.S. as Japan’s biggest overseas market this year, has been lifting exporters such as Nissan. Japan’s third-biggest automaker this month narrowed its full-year loss forecast and raised its sales projections for China by 25 percent.

Exports to the nation fell 13.8 percent in September, while shipments to the U.S. decreased 33.9 percent and those to Europe slumped 38.6 percent, customs-cleared trade data showed last month. Today’s figures don’t include regional breakdowns.

Finance ministers and central bank governors from the Group of 20 nations pledged last weekend to keep stimulus measures in place as “the recovery is uneven and remains dependent on policy support.”

The current account tracks the flow of goods, services and investment income between Japan and its trading partners. It includes trade not shown in the customs-cleared balance.

To contact the reporter on this story: Aki Ito in Tokyo at aito16@bloomberg.net

Last Updated: November 9, 2009 19:11 EST