Japan’s current account surplus sees 1st decline

9 March, 2021 12:00 AM printer

TOKYO: Japan’s current account surplus for January dropped from a year earlier for the first decline in five months, as the travel surplus continued to plunge amid the novel coronavirus pandemic, government data showed Monday.

The current account balance, one of the widest gauges of international trade, registered a surplus of 646.8 billion yen ($6 billion), down 2.3 percent from a year ago to mark the 79th straight month of black ink, the Finance Ministry said in a preliminary report.

The services trade balance logged a deficit of 480.9 billion yen, more than tripling from the previous year’s deficit of 142.2 billion yen, as the travel surplus continued to see a significant fall due to strict travel restrictions by countries attempting to contain the virus spread, report agencies.