Japan's current account surplus drops 50 pct to 8-year low in 2022

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Japan's current account surplus drops 50 pct to 8-year low in 2022

STORY: Japan's current account surplus drops 50 pct to 8-year low in 2022 DATELINE: Feb. 9, 2023 LENGTH: 00:00:48 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of Tokyo 2. various of banks 3. various of ports 4. various of Tokyo STORYLINE: Japan's current account surplus logged in 2022 was almost 50 percent lower than the previous year, marking its lowest level in eight years, owing to a record trade deficit due to an upsurge in imports and the yen's weakness, the government said in a report on Wednesday. According to the finance ministry, the current account in 2022 stood at 11.44 trillion yen (87.26 billion U.S. dollars), with a record contraction year on year, resulting from surging import costs coming despite the primary income logging a record surplus. The country's trade deficit totaled 15.78 trillion yen (120.36 billion dollars), with imports climbing 42 percent to 114.47 trillion yen (873.12 trillion dollars) and exports up 19.9 percent to 98.69 trillion yen (752.74 billion dollars), th

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