Japan FY 2022 current account surplus down 54% on record trade deficit

Japan's current account surplus in fiscal 2022 shrank 54.2 percent from a year earlier to 9.23 trillion yen ($68.8 billion), the lowest level since fiscal 2014, driven by a record goods trade deficit swollen by high energy prices and a weak yen, government data showed Thursday.The surplus in the current account, one of the widest gauges of international trade, fell as the resource-poor country saw its goods trade deficit grow nearly 12-fold to 18.06 trillion yen and a weak yen inflated import costs, according to a preliminary report released by the Finance Ministry.Imports jumped 35.0 perce…READ FULL ARTICLE