Japan's current account surplus shrank sharply last year to its smallest in 15 years as weak exports and surging fuel imports resulted in a rare trade deficit, raising worries about the country's declining ability to fund its huge public debt with domestic savings.
The current account balance -- a broad measure of trade and other flows--logged a surplus of 9.6289 trillion yen ($125 billion) in 2011, down 44 percent from the previous year, marking its biggest fall on record, although income from overseas investment still more than offset the trade deficit.
The decline in inflows has been heralded by earlier data that showed Japan posted its first trade deficit since 1980 last year as a devastating earthquake in March hurt exports and increased its reliance on fuel imports due to nuclear plant shutdowns. (Reuters)
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