Japan reports record annual trade deficit as energy prices soar
Published on Senin, 03 Februari 2014
01.01 //
Asian,
fundamental analysis,
Market News
Japan’s trade deficit has hit an all-time high as imports were swollen by higher energy prices and a weak yen.
Prime minister Shinzo Abe has been bidding to boost the
Japanese economy with the help of huge monetary stimulus and public
spending.
But import costs have risen and the
country’s nuclear shutdown since the 2011 tsunami triggered a meltdown
at the Fukushima plant, has increased Japan’s reliance on energy
imports.
The trade deficit hit a 11.47 trillion yen (£68 billion) last year as exports rose 9.5 per cent but imports jumped 15 per cent.
It
marks a third straight year of deficit in Japan — the country’s longest
run on record — and comes after a trade gap of 6.94 trillion yen was
posted in 2012.
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