Japan's current account surplus drops to record low in 1H

Japan's current account surplus dropped to a record low 3,036.6 billion yen ($38.7 billion) for the six months through June, heavily affected by growing energy imports amid fears of electricity supply shortages, the government said Wednesday. The balance of international payments, the widest gauge of trade for a country covering goods and services trade as well as overseas investments, fell 45.0% from a year earlier, the Finance Ministry said in a preliminary report. The surplus was the smallest on a first-half basis since comparable data became available in 1985, according to (Kyodo) news agency. In June alone, the balance stood at a 433.3 billion surplus, down 19.6% and the 16th straight month of deterioration, with the ministry underscoring the need to closely watch commodity prices, the world economic outlook and the yen's strength in the currency market.