Japan Posts 92.3 Billion Yen Current Account Deficit in June
Japan recorded a current account deficit of 92.3 billion yen in June, its first shortfall in 17 months, as a sharp increase in import costs outpaced growth in exports. (News On Japan)
Japan's current account deficit widened to 92.3 billion yen in June, marking its first shortfall in 17 months. This decline occurred as import costs surged, outpacing the growth in exports. The Finance Ministry reported that the current account, encompassing Japan's transactions with the global market, turned negative for the first time since January 2025.
While exports rose, the increase in imports was far more substantial, exacerbating the deficit. A significant contributor to this deterioration was the oil sector, with crude oil imports' value skyrocketing by 59.3% despite a 13.7% drop in volume. This was largely due to higher oil prices and the weakening yen.
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