Posted on 12 Jan 2012
Japan’s current account surplus fell 85.5% in November as the nation ran a trade deficit due to higher energy costs, government data showed Thursday.
The surplus in the current account, the broadest measure of its trade with the rest of the world, was down year-on-year for the ninth straight month since the March earthquake and tsunami disasters.
The surplus for November stood at 138.5 billion yen, with the trade deficit reaching 585.1 billion yen against a surplus of 256.2 billion yen a year earlier, according to data from the finance ministry.
The fall was bigger than the 74% drop expected by economists surveyed by Dow Jones and the Nikkei.
Japan has fallen into a trade deficit due to higher prices of fuel as well as a slowdown in global demand and a strong yen, which has further hampered exports.
The current account measures trade in goods, services, tourism and investment.
