Japan's current account surplus nearly halved in 2022 from a year earlier to ¥11.44 trillion ($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, 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 current account, one of the widest gauges of international trade, was the smallest since hitting ¥3.92 trillion in 2014.