Japan's July current account surplus drops 87% to lowest since 1985

Japan's current account surplus dropped 86.6 percent from a year earlier to 229.0 billion yen ($1.59 billion) in July, marking the smallest surplus for the month since 1985 as a weaker yen and higher oil prices boosted the cost of imports, the Finance Ministry said Thursday.

It returned to the black for the first time in two months.

Among key components, the country had a goods trade deficit of 1.21 trillion yen and a service trade deficit of 790.8 billion yen, according to the ministry's preliminary report.

Primary income, which reflects returns on overseas investments, posted a surplus of 2.43 trillion yen.

© Kyodo News