Japan's current account surplus halves to 8-yr low in 2022

Japan's current account surplus nearly halved in 2022 from a year earlier to 11.44 trillion yen ($87 billion), its lowest level in eight years, weighed down by a record trade deficit caused by swelling imports and a weakening yen, the Finance Ministry said Wednesday.The biggest ever year-on-year decline of 10.15 trillion yen came despite a record surplus in primary income, which reflects returns on foreign investments made by Japanese firms, underscoring the magnitude of the hit to resource-scarce Japan from surging imports of higher-priced energy and other items.The nation's surplus in the…READ FULL ARTICLE