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Japan logs first current account deficit in 13 years

(Xinhua)
Updated: 2009-03-09 08:58

TOKYO -- Japan logged its first current account deficit in 13 years in January of 172.8 billion yen ($1.8 billion), the Finance Ministry data showed Monday.

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It was the first current account deficit since January 1996, the government said.

Exports dived 46.3 percent from a year earlier to 3.282 trillion yen ($33.8 billion), while imports tumbled 31. 7 percent to 4.127 trillion yen ($42.54 billion), the ministry said.

The balance of trade in goods and services posted a deficit of 1,100.2 billion yen ($11.3 billion), while the deficit in merchandise trade totaled 844.4 billion yen ($8.7 billion).