Tags: Japan | Trade

Japan Posts Record $112B Trade Deficit in 2013

Sunday, 26 Jan 2014 08:51 PM

TOKYO — Japan has reported a larger-than-expected trade deficit of 11.47 trillion yen ($112 billion) for 2013, as rising costs for imports outstrip growth in exports.

The Finance Ministry reported Monday that provisional data show the trade deficit soared 65 percent from the year before. Exports rose 9.5 percent to 69.8 trillion yen ($680.9 billion), while imports jumped 15 percent to 81.3 trillion yen ($793.2 billion).

Japan's trade deficit in 2012 was 6.94 trillion yen. The deficit has been rising as costs for imports have surged with the weakening of the Japanese yen and increased purchases of foreign oil and gas to make up for the loss of nuclear power following the disaster in Fukushima due to the March 2011 earthquake and tsunami.

December's deficit was 1.3 trillion yen ($12.7 billion).

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
Asia
Japan,Trade
130
2014-51-26
Sunday, 26 Jan 2014 08:51 PM
Newsmax Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved