Japan posts first current account deficit in 13 years (Updated)

TOKYO (AP) - Japan posted a record current account deficit in January, plunging into the red for the first time in 13 years due to plummeting demand for Japanese exports and a deepening global downturn, the Ministry of Finance said Monday.

The deficit stood at a record 172.8 billion yen ($1.8 billion) in January, far bigger than the previous deficit record of 25.6 billion yen in January 1996, the ministry said.