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Current account surplus shrinks

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Japan's current account surplus narrowed in January for the first time in 8 months, though the current account stayed in the black.Finance Ministry officials say the surplus in January was about 575 million dollars, down nearly 90 percent from a year before.The trade deficit was about 7.5 billion dollars, due to an increase in crude oil prices caused by an OPEC agreement on reducing crude production.The travel account surplus was about 1.3 billion dollars.The figure is derived by comparing spending by foreign visitors in Japan to that of Japanese abroad.The primary income balance, a measure of earnings from overseas investments, stayed in the black, with a surplus of about 11.1 billion dollars.

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