Japan faces current account deficit for first time in two years
Photo: Kyodo News
Japan recorded a current account deficit in January, marking the first time in two years, as a weak yen drove up the cost of imports, according to finance ministry data released on Monday.
A boost in imports of smartphones and electronic parts in the run-up to the Lunar New Year holiday, which started at the end of January, also pushed up total imports during the month, the data showed, News.Az reports, citing Reuters.
Japan's current account deficit in January stood at 257.6 billion yen ($1.75 billion), bigger than a median market forecast for a deficit of 230.5 billion yen, the data showed.
Imports rose 17.7% in January from a year earlier, while exports rose 2.1%, according to the data.
($1 = 147.5000 yen)
Similar news
