Japan sees first trade deficit in more than three years
Tokyo - Japan logged its first trade deficit in more than three years in August as rising commodity prices pushed up imports, the government said Wednesday.
The nation's imports jumped 20.2 per cent in August from the same month a year earlier to 6.96 trillion yen (68.02 billion dollars) while exports were almost unchanged at 6.72 trillion yen, up 0.9 per cent, the Finance Ministry said.
Japan's goods and services trade, measured on an international balance of payment basis, ran a deficit of 327.6 billion yen.
Goods trade posted a deficit of 236 billion yen, the largest since comparable figures became available in 1985, and services trade recorded a deficit of 91.6 billion yen.
Japan's current account surplus narrowed by 52.5 per cent in August to 988.8 billion yen.
The income surplus amounted to 1.4 trillion yen.
The current account balance shows the difference between a country's income from foreign sources and foreign obligations payable, excluding net capital investment. (dpa)