— Japan Jan Current Account Deficit Y437.3 Bln; Surplus A Year Ago
— Japan Jan C/A Deficit MNI Median Forecast Y132.7 Bln
TOKYO (MNI) – Japan logged a record high current account deficit in
January as exports posted the fourth straight fall on slowing global
demand, the high yen and slower shipments to China during Lunar New Year
holidays, data released by the Ministry of Finance on Thursday showed.
The current account deficit stood at Y437.3 billion in January,
compared with a surplus of Y547.2 billion a year earlier.
The figures came in worse than the median forecast in a Market News
International survey for a deficit of Y132.7 billion.
January’s deficit surpassed the previous record deficit of Y132.7
billion marked in January 2009, when Japan suffered a sudden plunge in
global demand triggered by the collapse of Lehman Brothers. The current
account monthly statistics date to January 1996.
The income surplus, the largest component of the current account,
rose 3.6% to Y1.13 trillion in January, marking the 10th straight y/y
rise.
Exports fell 8.5% in January from a year earlier, marking the
fourth straight fall, while imports increased 11.2% for a 25th straight
rise.
The services account — including transport, travel and financial
services — posted a deficit of Y93.0 billion in January, compared with
a deficit of Y75.8 billion a year earlier.
The combined goods and services accounts were in deficit by Y1.47
trillion in January, widening from a year-earlier shortfall of Y475.3
billion.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5408-4835 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
