Cheaper Oil Helps Japan Keep Logging Current Account Surplus In Jan.


Cheaper oil helps Japan keep logging current account surplus in Jan.Japan posted a current account surplus for the 19th consecutive month in January, the government said Tuesday, with declining crude oil prices driving down imports and a growing number of foreign tourists helping to push travel further into the black.

The surplus in one of the widest gauges of a country's international trade stood at 520.8 billion yen ($4.6 billion), up more than fivefold from 101.8 billion yen a year earlier, the Finance Ministry said.

Among key components in the account, goods trade posted a deficit of 411.0 billion yen, with exports falling 15.4 percent from a year earlier to 5.36 trillion yen amid a slowdown in Chinese and other emerging economies and imports sliding 19.8 percent to 5.77 trillion yen.