Japan posted a current account surplus of 941.6 billion yen in January, the Ministry of Finance said on Monday.
That was shy of expectations for a surplus of 960 billion yen following the 729 billion yen surplus in December.
Imports were down 7.7 percent on year to 9.644 trillion yen and exports jumped an annual 20.3 percent to 9.044 trillion yen for a trade deficit of 600.4 billion yen.
The capital account had a shortfall of 11.0 billion, while the financial account had a deficit of 506.5 billion yen.