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May 29, 2017

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Japan posts first current account deficit in 5 months on oil imports

TOKYO--Japan posted its first current account deficit in five months in June as growing imports of fossil fuels inflated the country's trade shortfall, government data showed Friday.

The deficit of 399.1 billion yen (US$3.9 billion) reversed a surplus of 377.7 billion yen a year earlier.

The latest current account figure — the broadest measure of Japan's trade with the rest of the world — was influenced by an expansion in the country's trade deficit.

That measure, a narrower gauge of the health of the economy, also expanded to 537.1 billion yen in June due to growing crude oil imports, reversing a surplus a year earlier, the finance ministry said.

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