• Sun, March 9, 2025

by: CNA

Japan posts current account deficit for first time in 2 years

Japan recorded a current account deficit in January for the first time in two years as a weak yen inflated the cost of imports, finance ministry data showed on Monday.A boost in imports of smartphones and electronic parts in the run-up to the Lunar New Year holiday,
  • Mon, March 10, 2025

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Japan posts current account deficit for first time in 2 years

Japan recorded a current account deficit in January for the first time in two years as a weak yen inflated the cost of imports, finance ministry data showed on Monday.A boost in imports of smartphones and electronic parts in the run-up to the Lunar New Year holiday,
Japan recorded its first current account deficit in two years, amounting to 1.1 trillion yen (S$10.2 billion) in January, as reported by the Finance Ministry. This deficit was primarily driven by a significant increase in imports, particularly energy, which outpaced the growth in exports. Despite a record primary income surplus of 2.8 trillion yen, the trade deficit was substantial enough to tip the balance. Exports rose by 10.6 percent year-on-year, but imports surged by 20.7 percent, leading to a trade deficit of 3.1 trillion yen. This situation underscores Japan's ongoing challenge with its trade balance, exacerbated by global economic conditions and a weaker yen.

Read the Full CNA Article at:
https://www.channelnewsasia.com/business/japan-posts-current-account-deficit-first-time-2-years-4989381

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