Japan logs current account deficit
Tokyo: Japan's current account balance in January registered deficit for a third consecutive month for the first time since comparable data became available in 1985, government data showed Friday.
The deficit in the balance, one of the widest gauges of international trade, stood at 364.8 billion yen, with goods trade seeing a record deficit of 1,479.3 billion yen, according to the finance ministry. The trade deficit expanded for the fifth straight month, reported Xinhua.
Exports rose 6.7 percent from a year earlier to 4,646.1 billion yen on the back of increasing shipments to the US and the Association of Southeast Asian Nations, but imports climbed 6. 6 percent to 6,125.4 billion yen as fossil fuel imports soared, according to the report.