The current account surplus shrank for the first time in eight months in January, weighed down by a widening trade deficit amid rising crude oil prices, government data showed Wednesday.
The surplus in one of the widest gauges of a country's international trade stood at ¥65.5 billion ($575 million), down 88.9 percent from a year ago. Japan logged a current account surplus for the 31st month in a row.
The trade of goods registered a deficit of ¥853.4 billion, the first red ink figure in a year, as the value of imports grew more than exports, the Finance Ministry said in a preliminary report. China's Lunar New Year holiday from late January is also believed to have weighed on shipments from Japan.