While the Finance Ministry reported Monday that Japan suffered a record trade deficit of 1.475 trillion yen in January, views are growing the nation will also post a current account deficit in January.
It is feared the trade deficit will continue if exports remain sluggish, as imports are expected to continue to hover at high levels.
The increase in the January trade deficit was due to an ongoing increase in imports of liquefied natural gas--a fuel used for thermal generation of electrical power--to make up for reduced nuclear power generation following the crisis at the Fukushima No. 1. nuclear power plant. (Yomiuri)
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