Japan's current account surplus fell sharply in December after a record rise the prior month. This is highlighting the impact of persistent trade deficits and a weak yen on the country's once-solid balance of payments. The yen's slide over the past year has bumped up the cost of imports, including commodities and oil that were already on the rise due to the Ukraine war, putting immense pressure on Japan's overall current and trade accounts.
The current account surplus stood at 33.4 billion yen ($255.51 million) in December, down steeply from a surplus of 1.8 trillion yen the previous month that was driven by income gains from securities investments and hefty Japanese investments overseas.
($1 = 132.2500 yen)
Source: reuters.com