Japan’s current account deficit was 257.6 billion yen ($1.75 billion) in January, exceeding the median market prediction of a 230.5-billion-yen deficit, according to data from the Finance Ministry on Monday.
The current account fell into deficit in January for the first time in two years due to the impact of a weaker yen on import costs, as stated in the release.
An increase in smartphone and electronic parts imports before the Lunar New Year holiday, which began at the end of January, also contributed to the rise in total imports for the month.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama