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Japan’s current account suffered the biggest year-on-year decline in the first half of this fiscal year since the 2008 global financial crisis, as the trade balance fell into deficit due to a weakening yen and rising global commodity prices.
In the April-September period, the current account surplus more than halved from a year earlier, falling 58.6 percent to 4.8458 trillion yen ($33.36 billion), data from the Ministry of Finance showed on Wednesday.
That was the biggest fall since the second half of fiscal 2008 and the second-largest since comparable data became available in 1985.
The current account surplus fell to a level last seen in 2014 when rising oil prices tipped Japan’s trade balance into the red, the data showed.
